3 options
Getting to Know GIMF : The Simulation Properties of the Global Integrated Monetary and Fiscal Model / Derek Anderson, Benjamin Hunt, Mika Kortelainen, Michael Kumhof, Douglas Laxton, Dirk Muir, Susanna Mursula, Stephen Snudden.
- Format:
- Book
- Government document
- Author/Creator:
- Anderson, Derek.
- Series:
- IMF Working Papers; Working Paper ; No. 2013/055
- IMF Working Papers
- Language:
- English
- Subjects (All):
- Monetary policy--Econometric models.
- Monetary policy.
- Fiscal policy--Econometric models.
- Fiscal policy.
- Equilibrium (Economics)--Econometric models.
- Equilibrium (Economics).
- Physical Description:
- 1 online resource (67 p.)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2013.
- Language Note:
- English
- Summary:
- The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region, forward-looking, DSGE model developed by the Economic Modeling Division of the IMF for policy analysis and international economic research. Using a 5-region version of the GIMF, this paper illustrates the model’s macroeconomic properties by presenting its responses under a wide range of experiments, including fiscal, monetary, financial, demand, supply, and international shocks.
- Contents:
- Cover; Abstract; Contents; I. Introduction; II. Summary of the Global Integrated Monetary and Fiscal Model (GIMF); A. Household Sector; B. Production Sector; C. Financial Sector; D. International Dimensions and Spillovers; E. Fiscal and Monetary Policy; III. Properties of Fiscal Shocks; A. Fiscal Multipliers Based on 2 Years of Fiscal Stimulus; Two Year Increase in Government Spending - Consumption versus Investment; Two Year Increase in Lumpsum Transfers - General versus Targeted to LIQ Households; Two Year Decrease in Taxation; B. Permanent Fiscal Consolidation
- Permanent Fiscal Consolidation through Government Spending - Consumption versus InvestmentPermanent Fiscal Consolidation through Lumpsum Transfers - General versus Targeted to LIQ Households; Permanent Fiscal Consolidation through Increased Taxation; C. Permanent Fiscal Consolidation and the Issue of Credibility; IV. Properties of Financial and Monetary Shocks; A. Temporary Increase in the Nominal Interest Rate; B. Temporary but Persistent Increase in Borrowers' Riskiness; V. Properties of Demand Shocks; A. Temporary Increase in Private Domestic Demand; B. Permanent Increase in Saving
- VI. Properties of Supply ShocksA. Permanent Increase in the Level of Labor-Augmenting Productivity in Intermediate Goods Production, and the Balassa-Samuelsson Effect; B. Temporary 10-Year Increase in the Growth Rate of Labor-Augmenting Productivity in All Intermediate Goods Production; C. Permanent Increase in Competition in the Labor Market that Decreases the Markup in Real Wages; D. Permanent Increase in Competition that Decreases Intermediate Goods Price Markups; VII. Properties of International Shocks; A. Temporary Increase in Sovereign Risk; B. Permanent Increase in Tariffs
- VIII. References
- Notes:
- February 2013.
- Includes bibliographical references.
- Description based on online resource; title from PDF title page (ebrary, viewed September 26, 2014).
- ISBN:
- 9781475524888
- 1475524889
- 9781475536973
- 1475536976
- 9781299395343
- 1299395341
- 9781475585285
- 1475585284
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.