Banks in The Global Integrated Monetary and Fiscal Model

Author/Editor:

Michal Andrle ; Michael Kumhof ; Douglas Laxton ; Dirk V Muir

Publication Date:

July 10, 2015

Electronic Access:

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Disclaimer: This Working 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:

The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region DSGE model developed by the Economic Modeling Division of the IMF for policy and scenario analysis. This paper compares two versions of GIMF, GIMF with a conventional financial accelerator, where bank balance sheets do not play a prominent role, and GIMF with both a financial accelerator and a fully specified banking sector that can make lending losses, and that is regulated according to Basel-III. We illustrate the comparative macroeconomic properties of both models by presenting their responses to a wide range of fiscal, demand, supply and financial shocks.

Series:

Working Paper No. 15/150

Subject:

English

Publication Date:

July 10, 2015

ISBN/ISSN:

9781513532967/1018-5941

Stock No:

WPIEA2015150

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

49

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