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Is Japan’s Population Aging Deflationary?
Anderson, Derek; Botman, Dennis P. J.; Hunt, Ben - International Monetary Fund (IMF) - 2014
Japan has the most rapidly aging population in the world. This affects growth and fiscal sustainability, but the … potential impact on inflation has been studied less. We use the IMF’s Global Integrated Fiscal and Monetary Model (GIMF) and …
Persistent link: https://www.econbiz.de/10011142094
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Fiscal Consolidation in the Euro Area; How Much Can Structural Reforms Ease the Pain?
Anderson, Derek; Hunt, Ben; Snudden, Stephen - International Monetary Fund (IMF) - 2013
The IMF’s Global Integrated Monetary and Fiscal model (GIMF) is used to examine the scope for structural reforms in the euro area to offset the negative impact of fiscal consolidation required to put public debt back on a sustainable path. The results suggest that structural reforms in core...
Persistent link: https://www.econbiz.de/10011242309
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The Declining Importance of Tradable Goods Manufacturing in Australia and New Zealand; How Much Can Growth Theory Explain?
Hunt, Ben - International Monetary Fund (IMF) - 2009
In this paper, the IMF's new Global Economy Model (GEM) is used to estimate the contribution of unbalanced growth to the decline in the share of goods production in Australia and New Zealand. The simulation results suggest that faster productivity growth in the tradable goods sector in...
Persistent link: https://www.econbiz.de/10005248284
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Some Implications for Monetary Policy of Uncertain Exchange Rate Pass-Through
Hunt, Ben; Isard, Peter - International Monetary Fund (IMF) - 2003
The paper uses MULTIMOD to examine the implications of uncertain exchange rate pass-through for the conduct of monetary policy. From the policymaker's perspective, uncertainty about exchange rate pass-through implies uncertainty about policy multipliers and the impact of state variables on...
Persistent link: https://www.econbiz.de/10005826051
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U.K. Inflation and Relative Prices Over the Last Decade; How Important Was Globalization?
Hunt, Ben - International Monetary Fund (IMF) - 2007
factors argued to explain the differences in the trends in core inflation and relative prices in the United Kingdom, the Euro …
Persistent link: https://www.econbiz.de/10005826211
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Inflation Targeting Under Potential Output Uncertainty
Gaiduch, Victor; Hunt, Ben - International Monetary Fund (IMF) - 2000
examine the output gap’s usefulness. The results suggest that although output gap uncertainty leads to more inflation and … policy based only on observable inflation and output growth. …
Persistent link: https://www.econbiz.de/10005826299
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Oil Price Shocks; Can they Account for the Stagflation in the 1970's?
Hunt, Ben - International Monetary Fund (IMF) - 2005
energy prices can generate an inflation response similar to that seen in the 1970s if the monetary authority misperceives the … of the acceleration in inflation experienced in the United States in 1974 and 1975. …
Persistent link: https://www.econbiz.de/10005768941
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GEM; A New International Macroeconomic Model
Bayoumi, Tamim; Faruqee, Hamid; Laxton, Douglas; Karam, … - International Monetary Fund (IMF) - 2004
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...
Persistent link: https://www.econbiz.de/10005590952
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The Macroeconomic Effects of Higher Oil Prices
Isard, Peter; Hunt, Ben; Laxton, Douglas - International Monetary Fund (IMF) - 2001
increases can pass through into core inflation, a possible explanation of the asymmetric relationship between oil prices and …
Persistent link: https://www.econbiz.de/10005605097
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Stabilizing Inflation in Iceland
Honjo, Keiko; Hunt, Ben - International Monetary Fund (IMF) - 2006
This paper provides some empirical estimates on how tightly is it feasible to control inflation in a very small open … inflation and output variability that are achievable under a range of alternative monetary policy rules. These frontiers … illustrate that inflation stabilization is more challenging in Iceland than in other industrial countries primarily because of …
Persistent link: https://www.econbiz.de/10005605114