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A Small Quarterly Multi-Country Projection Model

Laxton, Jared; Ermolaev, Igor; Freedman, Charles; … - International Monetary Fund (IMF) - 2008

This is the second of a series of papers that are being written as part of a larger project to estimate a small quarterly Global Projection Model (GPM). The GPM project is designed to improve the toolkit for studying both own-country and cross-country linkages. In this paper, we estimate a small...

Persistent link: https://www.econbiz.de/10005825847

DSGE Modeling At the Fund; Applications and Further Developments

Botman, Dennis P. J.; Rose, David; Laxton, Douglas; … - International Monetary Fund (IMF) - 2007

Researchers in policymaking institutions have expended significant effort to develop a new generation of macro models with more rigorous microfoundations. This paper provides a summary of the applications of two of these models. The Global Economy Model is a quarterly model that features a large...

Persistent link: https://www.econbiz.de/10005826064

Developing a Structured Forecasting and Policy Analysis System to Support Inflation-Forecast Targeting (IFT)

Laxton, Douglas; Scott, Alasdair; Rose, David - International Monetary Fund (IMF) - 2009

This paper presents a basic plan for developing a Forecast and Policy Analysis System designed to support an inflation …

Persistent link: https://www.econbiz.de/10005826216

GPM6; The Global Projection Model with 6 Regions

Carabenciov, Ioan; Freedman, Charles; Garcia-Saltos, Roberto - International Monetary Fund (IMF) - 2013

This is the sixth of a series of papers that are being written as part of a project to estimate a small quarterly Global Projection Model (GPM). The GPM project is designed to improve the toolkit to which economists have access for studying both own-country and cross-country linkages. In this...

Persistent link: https://www.econbiz.de/10011242396

Getting to Know GIMF; The Simulation Properties of the Global Integrated Monetary and Fiscal Model

Anderson, Derek; Hunt, Ben; Kortelainen, Mika; Kumhof, … - International Monetary Fund (IMF) - 2013

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 modelâ€™s...

Persistent link: https://www.econbiz.de/10011242434

Adding China to the Global Projection Model

Blagrave, Patrick; Elliott, Peter; Garcia-Saltos, Roberto; … - International Monetary Fund (IMF) - 2013

We extend the Global Projection Model (GPM) to include a separate block for China. China plays an important role in shaping global economic outcomes, given its sheer size and trade integration with other key economies, its demand for commodities, and its policies. Also, the Chinese economy has...

Persistent link: https://www.econbiz.de/10010790285

The Case for Global Fiscal Stimulus

Lee, Jaewoo; Laxton, Douglas; Kumhof, Michael; … - International Monetary Fund (IMF) - 2009

Persistent link: https://www.econbiz.de/10010790469

The Benefits of International Policy Coordination Revisited

Benes, Jaromir; Kumhof, Michael; Laxton, Douglas; Muir, Dirk - International Monetary Fund (IMF) - 2013

This paper uses two of the IMFâ€™s DSGE models to simulate the benefits of international fiscal and macroprudential policy coordination. The key argument is that these two policies are similar in that, unlike monetary policy, they have long-run effects on the level of GDP that need to be...

Persistent link: https://www.econbiz.de/10011142005

It Framework Design Parameters

Laxton, Douglas; Freedman, Charles - International Monetary Fund (IMF) - 2009

This is the third chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation-Targeting Regimes …: Saying What You Do and Doing What You Say." It examines a number of elements in the design of an inflation …-targeting framework. These include the definition of the target variable, the relevance of core measures of inflation, and the advantages …

Persistent link: https://www.econbiz.de/10004999952

Why Inflation Targeting?

Freedman, Charles; Laxton, Douglas - International Monetary Fund (IMF) - 2009

monetary anchor, the inflation-targeting regime, and its two key intellectual roots-the absence of long-run trade-offs and the …This is the second chapter of a forthcoming monograph entitled "On Implementing Full-Fledged Inflation …-Targeting Regimes: Saying What You Do and Doing What You Say." We begin by discussing the costs of inflation, including their role in …

Persistent link: https://www.econbiz.de/10004999955