{
  "title": "The Flexible System of Global Models – FSGM",
  "publication": "IMF Working Papers, 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.",
  "sections": [
    {
      "heading": "Overview and Purpose",
      "content": "- The Flexible System of Global Models (FSGM) is a group of models developed by the Economic Modeling Division of the IMF for policy analysis.\n- A typical module of FSGM is a multi-region, forward-looking semi-structural global model consisting of 24 regions.\n- The paper uses three core modules focused on the G-20, the euro area, and emerging market economies to:\n  - Outline the theory under-pinning the model.\n  - Illustrate its macroeconomic properties by presenting its responses under a wide range of experiments."
    },
    {
      "heading": "Model Structure and Scope",
      "content": "- Model type: multi-region, forward-looking semi-structural global model.\n- Regional coverage: 24 regions.\n- Core modules highlighted: G-20, the euro area, emerging market economies.\n- Experiment types used to illustrate properties:\n  - Monetary shocks\n  - Financial shocks\n  - Demand shocks\n  - Supply shocks\n  - Fiscal shocks\n  - International shocks"
    },
    {
      "heading": "Key Subjects and Themes",
      "content": "- Primary subjects listed: Consumption, Exports, Imports, Inflation, International trade, National accounts, Oil prices, Prices.\n- Keywords and technical terms preserved exactly as given:\n  - adjustment cost parameter\n  - Consumption\n  - cost of capital\n  - dynamic stochastic general equilibrium models\n  - Exports\n  - fiscal policy\n  - Global\n  - Imports\n  - Inflation\n  - interest rate\n  - macroeconomic interdependence\n  - market clearing price\n  - monetary policy\n  - nominal interest rate\n  - Oil prices\n  - Phillips curve\n  - price deflator\n  - WP"
    },
    {
      "heading": "Summary Findings and Analytical Use",
      "content": "- The paper presents the theoretical foundations of the FSGM and demonstrates how the model responds to a wide range of standard macroeconomic experiments.\n- The FSGM is positioned as a tool for policy analysis across monetary, fiscal, financial, demand, supply, and international dimensions, using multi-region interactions captured across 24 regions.\n\nIMF Working Paper: \"The Flexible System of Global Models – FSGM\", Working Paper No. 2015/064, March 20, 2015\n\n---\n\n Content in this bundle\n\n- wp1564 - Appendix I. Composition of the Modules of Fsgm\n  - wp1564 - Appendix I. Composition of the Modules of Fsgm (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp1564 - Appendix I. Composition of the Modules of Fsgm (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/the-flexible-system-of-global-models-fsgm-42796"
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    "Authors: Michal Andrle, Patrick Blagrave, Pedro Espaillat, Keiko Honjo, Benjamin L Hunt, Mika Kortelainen, René Lalonde, Douglas Laxton, Eleonara Mavroeidi, Dirk V Muir, Susanna Mursula, Stephen Snudden",
    "Published: March 20, 2015",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781475518665.001",
    "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.",
    "The paper uses three core modules focused on the G-20, the euro area, and emerging market economies to:",
    "Model type: multi-region, forward-looking semi-structural global model.",
    "Regional coverage: 24 regions.",
    "Core modules highlighted: G-20, the euro area, emerging market economies.",
    "Experiment types used to illustrate properties:",
    "Primary subjects listed: Consumption, Exports, Imports, Inflation, International trade, National accounts, Oil prices, Prices.",
    "Keywords and technical terms preserved exactly as given:",
    "The paper presents the theoretical foundations of the FSGM and demonstrates how the model responds to a wide range of standard macroeconomic experiments.",
    "The FSGM is positioned as a tool for policy analysis across monetary, fiscal, financial, demand, supply, and international dimensions, using multi-region interactions captured across 24 regions.",
    "**_wp1564 - Appendix I. Composition of the Modules of Fsgm**"
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