We propose a new approach to study the resilience to the business cycle fluctuations. of the Central Europe and Baltic (CEB) macro-region. By individually estimating six open economy DSGE models within the macro-region, we identify the business-cycle-volatility drivers for each country. Then, we use the outcome of our six estimates to conduct a principal component analysis to determine structural common characteristics required to explain economic resilience in the CEB macro-region.
An integrated Bayesian-Principal Component approach to macroeconomic resilience: The case of the Central Europe and Baltic macro-region / Beqiraj, Elton; Bartolomeo, Di; DI PIETRO, Marco; Serpieri, Carolina. - In: JOURNAL OF ECONOMIC STUDIES. - ISSN 0144-3585. - (2024).
An integrated Bayesian-Principal Component approach to macroeconomic resilience: The case of the Central Europe and Baltic macro-region
beqirajPrimo
;di BartolomeoSecondo
;Di Pietro MarcoPenultimo
;serpieri
Ultimo
2024
Abstract
We propose a new approach to study the resilience to the business cycle fluctuations. of the Central Europe and Baltic (CEB) macro-region. By individually estimating six open economy DSGE models within the macro-region, we identify the business-cycle-volatility drivers for each country. Then, we use the outcome of our six estimates to conduct a principal component analysis to determine structural common characteristics required to explain economic resilience in the CEB macro-region.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.