The Global Integrated Monetary and Fiscal Model (GIMF) – Theoretical Structure / Douglas Laxton, Susanna Mursula, Michael Kumhof, Dirk Muir.

Format:

Book

Government document

Author/Creator:

Laxton, Douglas.

Contributor:

Kumhof, Michael.

Muir, Dirk.

Mursula, Susanna.

Series:

IMF Working Papers; Working Paper ; No. 2010/034

IMF Working Papers

Language:

English

Physical Description:

1 online resource (75 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2010.

Language Note:

English

Summary:

This working paper presents a comprehensive overview of the theoretical structure of the Global Integrated Monetary and Fiscal Model (GIMF), a multi-region dynamic general equilibrium model that is used by the IMF for a variety of tasks including policy analysis, risk analysis, and surveillance.

Contents:

Contents; I. Introduction; II. Model Overview; III. Overlapping Generations Households; IV. Liquidity Constrained Households; V. Aggregate Household Sector; VI. Manufacturers; VII. Capital Goods Producers; A. GIMF with Financial Accelerator; B. GIMF without Financial Accelerator; VIII. Entrepreneurs and Banks; IX. Raw-Materials Producers; A. Raw-Materials Output and Storage; B. Raw-Materials Sales; X. Unions; XI. Import Agents; XII. Distributors; XIII. Investment Goods Producers; XIV. Consumption Goods Producers; XV. Retailers; XVI. Government; A. Government Production

B. Government Budget ConstraintC. Fiscal Policy; 1. Dynamic Stability; 2. Business Cycle Stabilization; D. Monetary Policy; XVII. Shocks; XVIII. Balance of Payments; XIX. Calibration; XX. Applications of GIMF; A. Central Banks Using GIMF; B. IMF Area Departments Using GIMF; Appendices; 1. Population Growth; 2. Optimality Conditions for OLG Households; 3. Consumption and Wealth; 4. Manufacturers; 5. Entrepreneur's Problem - Lognormal Distribution; 1. Basic Properties of Γ and G; 2. Basic Properties of the Lognormal Distribution; 3. Derivations; 4. Final Equation System; References; Tables

1. Long Run Growth Rates and Interest Rates2. Utility Functions; 3. Elasticities of Substitution; 4. Steady State Markups; 5. Steady State Expenditure to GDP Ratios; 6. Steady State Factor Shares and Depreciation Rates; 7. Miscellaneous Steady State Ratios and Parameters; 8. Financial Accelerator Sector; 9. Monetary Rule Parameters; 10. Fiscal Rule Parameters; Figures; 1. Goods and Factor Flows in GIMF; 2. Trade Matrix: Intermediate Goods; 3. Trade Matrix: Investment Goods; 4. Trade Matrix: Consumption Goods

Notes:

Description based upon print version of record.

Description based on publisher supplied metadata and other sources.

ISBN:

9786613864550

9781462370887

1462370888

9781452737942

1452737940

9781283552103

1283552108

9781451989243

1451989245

OCLC:

726764770