Application of the IS-MP-IA Model and the Taylor Rule to Croatia

• 영문명: Application of the IS-MP-IA Model and the Taylor Rule to Croatia: Policy Implications for Economic Integration
• 발행기관: 세종대학교 경제통합연구소
• 저자명: Yu Hsing
• 간행물 정보: 『Journal of Economic Integration』제21권 제1호, 147~156쪽, 전체 10쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2006.03.31

영문 초록

Applying the IS-MP-IA model and the Taylor rule, this study finds that a lower expected inflation rate, real appreciation, a lower federal funds rate, and more world output would help increase the Croatian output. The insignificance of government deficit spending suggests that the Ricardian-equivalence hypothesis may be applicable to Croatia. The conventional wisdom to pursue currency devaluation to stimulate the economy may not work for Croatia.

목차

Ⅰ. Introduction

Ⅱ. Theoretical Model

Ⅲ. Empirical Results

Ⅳ. Summary and Conclusions

키워드

IS-MP-IA Taylor rule deficit spending devaluation world interest rates