The Flexible System of Global Models – FSGM
March 20, 2015
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Summary
The Flexible System of Global Models (FSGM) is a group of models developed by the Economic Modeling Division of the IMF for policy analysis. A typical module of FSGM is a multi-region, forward-looking semi-structural global model consisting of 24 regions. Using the three core modules focused on the G-20, the euro area, and emerging market economies, this paper outlines the theory under-pinning the model, and illustrates its macroeconomic properties by presenting its responses under a wide range of experiments, including monetary, financial, demand, supply, fiscal and international shocks.
Subject: Consumption, Exports, Imports, Inflation, International trade, National accounts, Oil prices, Prices
Keywords: adjustment cost parameter, Consumption, cost of capital, dynamic stochastic general equilibrium models, Exports, fiscal policy, Global, Imports, Inflation, interest rate, macroeconomic interdependence, market clearing price, monetary policy, nominal interest rate, Oil prices, Phillips curve, price deflator, WP
Pages:
66
Volume:
2015
DOI:
Issue:
064
Series:
Working Paper No. 2015/064
Stock No:
WPIEA2015064
ISBN:
9781475518665
ISSN:
1018-5941
