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GEM: A New International Macroeconomic Model

Author/Editor: Bayoumi, Tamim | Laxton, Douglas | Faruqee, Hamid | Hunt, Ben | Karam, Philippe D | Lee, Jaewoo | Rebucci, Alessandro | Tchakarov, Ivan
Published: November 30, 2004
Electronic Access: Free Full Text (PDF file size is 330KB)
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Summary: Over the past two years, the IMF staff has been developing a new multicountry macroeconomic model called the Global Economy Model (GEM). This paper explains why such a model is needed, how GEM differs from its predecessor model, and how the new features of the model can improve the IMF’s policy analysis. The paper is aimed at a general audience and avoids technical detail. It outlines the motivation, structure, strengths, and limitations of the model; examines three simulation exercises that have been completed; and discusses the future path of GEM.
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Series: Occasional Paper No. 239
Subject(s): Economic models
    Published:   November 30, 2004        
    ISBN/ISSN:   978-1-58906-375-4 / 0251-6365   Format:   Paper
    Stock No:   S239EA   Pages:   34
    Price:   US$25.00 (Academic Rate: US$22.00 )
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