Welfare gains of joining a union for Latin America
I present a set of scenarios that analyze the intention of a union for the case of Latin America countries by developing a calibrated DSGE model with heterogeneous union. The model accounts for both a monetary and a fiscal union that controls for real and financial frictions with the implementation...
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| Format: | Thesis (University of Nottingham only) |
| Language: | English |
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2023
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| Online Access: | https://eprints.nottingham.ac.uk/72316/ |
| _version_ | 1848800732993552384 |
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| author | Ardiles Decker, Fabrizio Leonardo |
| author_facet | Ardiles Decker, Fabrizio Leonardo |
| author_sort | Ardiles Decker, Fabrizio Leonardo |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | I present a set of scenarios that analyze the intention of a union for the case of Latin America countries by developing a calibrated DSGE model with heterogeneous union. The model accounts for both a monetary and a fiscal union that controls for real and financial frictions with the implementation of different monetary and macroprudential policy regimes.
Preliminary results suggests that in general countries are better off (until some extent) with a monetary and a fiscal union that controls for macroprudential policies, but it seems that these gains comes exclusively from the weighted gains of peripheral countries rather than for core countries as well, i.e. in almost all scenarios core countries are better off without any type of union. The scenario with no monetary but just fiscal union is the only one that reports welfare losses (-0.0028), while the scenario with a monetary union and heterogeneous macroprudential policies, just for peripheral countries, accounts for the greatest welfare gains in the analysis (+0.0258). |
| first_indexed | 2025-11-14T20:56:15Z |
| format | Thesis (University of Nottingham only) |
| id | nottingham-72316 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T20:56:15Z |
| publishDate | 2023 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-723162024-03-20T13:25:28Z https://eprints.nottingham.ac.uk/72316/ Welfare gains of joining a union for Latin America Ardiles Decker, Fabrizio Leonardo I present a set of scenarios that analyze the intention of a union for the case of Latin America countries by developing a calibrated DSGE model with heterogeneous union. The model accounts for both a monetary and a fiscal union that controls for real and financial frictions with the implementation of different monetary and macroprudential policy regimes. Preliminary results suggests that in general countries are better off (until some extent) with a monetary and a fiscal union that controls for macroprudential policies, but it seems that these gains comes exclusively from the weighted gains of peripheral countries rather than for core countries as well, i.e. in almost all scenarios core countries are better off without any type of union. The scenario with no monetary but just fiscal union is the only one that reports welfare losses (-0.0028), while the scenario with a monetary union and heterogeneous macroprudential policies, just for peripheral countries, accounts for the greatest welfare gains in the analysis (+0.0258). 2023-12-14 Thesis (University of Nottingham only) NonPeerReviewed application/pdf en cc_by https://eprints.nottingham.ac.uk/72316/1/FINAL%20Research_Dissertation_MRes_V2%20%284%29.pdf Ardiles Decker, Fabrizio Leonardo (2023) Welfare gains of joining a union for Latin America. MRes thesis, University of Nottingham. Currency Union Macroprudential Policies Welfare Latin America |
| spellingShingle | Currency Union Macroprudential Policies Welfare Latin America Ardiles Decker, Fabrizio Leonardo Welfare gains of joining a union for Latin America |
| title | Welfare gains of joining a union for Latin America |
| title_full | Welfare gains of joining a union for Latin America |
| title_fullStr | Welfare gains of joining a union for Latin America |
| title_full_unstemmed | Welfare gains of joining a union for Latin America |
| title_short | Welfare gains of joining a union for Latin America |
| title_sort | welfare gains of joining a union for latin america |
| topic | Currency Union Macroprudential Policies Welfare Latin America |
| url | https://eprints.nottingham.ac.uk/72316/ |