The Role of MULTIMOD in the IMF's Policy Analysis

Author/Editor:

Peter Isard

Publication Date:

June 1, 2000

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Disclaimer: This Policy Dicussion Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

This paper describes the basic structure, underlying philosophy, and key behavioral properties of MULTIMOD. It also focuses on several recent applications of macromodels in the IMF’s policy analysis, emphasizing that most questions put forward for analysis with models like MULTIMOD are initially posed in ways that cannot be addressed by simply pushing a computer key. Meaningful macromodel-based policy analysis requires a sensibly structured and parameterized macromodel, but it also generally requires considerable probing of the nature of the policy issues in order to reformulate policy questions in terms of well-defined exogenous shocks.

Series:

Policy Discussion Paper No. 2000/005

Subject:

Conventional peg Exchange rate arrangements Exchange rates Expenditure Foreign exchange Inflation Prices

English

Publication Date:

June 1, 2000

ISBN/ISSN:

9781451972689/1564-5193

Stock No:

PPIEA0052000

Pages:

27

Please address any questions about this title to publications@imf.org