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- W2000989692 abstract "Rational expectations model for simulation (REMS) is a state-of-the-art DynamicStochastic General Equilibrium model (DSGE model) of the kind used in many pol-icy institutions throughout the world. It shares a number of common features withstandard models along this line of research, but also displays a number of specificfeatures that makes it appealing for fiscal policy simulations. Indeed, among otherparticular features REMS encompasses: (i) a wider coverage of fiscal variables thanin standard DSGE models, and (ii) a labour market specified along the lines of the“search”framework.WhileIthinkthatthemodelis,ingeneral,arelevantcontributionto the literature, in my discussion I will hinge upon some weaknesses and problemswith the modelling approach and the interpretation of the results that can be identified.For the sake of brevity I will focus on just a few points, grouped in two blocks. First, Iwill comment on non-standard features of REMS, as any critique to features standardin the relevant literature will make no justice to this particular model. Second, I willdiscuss some additional issues." @default.
- W2000989692 created "2016-06-24" @default.
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- W2000989692 date "2010-02-19" @default.
- W2000989692 modified "2023-10-16" @default.
- W2000989692 title "Discussion of the paper “A rational expectations model for simulation and policy evaluation of the Spanish economy”" @default.
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- W2000989692 doi "https://doi.org/10.1007/s13209-009-0017-4" @default.
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