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A SMALL SCALE MACROECONOMETRIC MODEL FOR THE EURO-12 AREA
long memory structural change fractional cointegration cobreaking time-varying parameter VECM core infl ation monetary policy Euro area.
2014/6/26
In the paper a small scale macroeconometric model for the Euro area is built, relying on cobreaking and fractional cointegration theory. Several linkages relating key macroeconomic variables are found...