A Three-Country Macroeconomic Model for Portugal

Author/Editor:

Alex Pienkowski

Publication Date:

December 20, 2019

Electronic Access:

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Summary:

This paper outlines a simple three-country macroeconomic model designed to focus on the transmission of external shocks to Portugal. Building on the framework developed by Berg et al (2006), this model differentiates between shocks originating from both inside and outside the euro area, as well as domestic shocks, each of which have different implications for Portugal. This framework is also used to consider the dynamics of the Portuguese economy over recent decades. The model, which is designed to guide forecasts and undertake simulations, can easily be modified for use in other small euro area countries.

Series:

Working Paper No. 19/281

Subject:

English

Publication Date:

December 20, 2019

ISBN/ISSN:

9781513519241/1018-5941

Stock No:

WPIEA2019281

Format:

Paper

Pages:

20

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