Getting to Know GIMF: The Simulation Properties of the Global Integrated Monetary and Fiscal Model
IMF Working Papers, February 27, 2013
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- Getting to Know GIMF: The Simulation Properties of the Global Integrated Monetary and Fiscal Model
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Bibliographic details
- Authors: Derek Anderson, Benjamin L Hunt, Mika Kortelainen, Michael Kumhof, Douglas Laxton, Dirk V Muir, Susanna Mursula, Stephen Snudden
- Published: February 27, 2013
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781475559415.001
Overview
- 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.
- The paper uses a 5-region version of the GIMF to illustrate the model’s macroeconomic properties by presenting its responses under a wide range of experiments, including fiscal, monetary, financial, demand, supply, and international shocks.
- Authors: Derek Anderson, Benjamin L Hunt, Mika Kortelainen, Michael Kumhof, Douglas Laxton, Dirk V Muir, Susanna Mursula, Stephen Snudden
- Date: February 27, 2013
Key simulation properties and themes
- The paper illustrates the model’s macroeconomic properties through responses to experiments in:
- fiscal shocks
- monetary shocks
- financial shocks
- demand shocks
- supply shocks
- international shocks
- The GIMF is described as suitable for policy analysis and international economic research, reflecting macroeconomic interdependence across regions.
Subjects and analytical focus
- Subject tags listed in the source:
- Central bank policy rate
- Consumption
- Financial services
- Foreign exchange
- Inflation
- National accounts
- Prices
- Real effective exchange rates
- Real interest rates
- Keywords listed in the source include:
- business cycle
- Central bank policy rate
- Consumption, consumption goods
- cost of capital
- CPI inflation rise
- demand
- fiscal consolidation
- fiscal multipliers
- fiscal policy
- general equilibrium models
- Global
- goods price
- goods sector
- Inflation, inflation rise
- interest rate, interest rate rule, interest rates
- investment goods
- macroeconomic interdependence
- monetary policy
- output price
- policy effects
- price effect
- price inflation
- Real effective exchange rates
- real interest rate, Real interest rates
- simulation
- world real interest rate
- WP
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- Getting to Know GIMF: The Simulation Properties of the Global Integrated Monetary and Fiscal Model