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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 Dynamics of the Term Structure of Interest Rates in the United States in Light of the Financial Crisis of 2007-2010
Waldo, Marco Rodriguez; Medeiros, Carlos I. - International Monetary Fund (IMF) - 2011
explain the dynamics of the term structure of interest rates, and the expectations of the impact on macroeconomic variables of …
Persistent link: https://www.econbiz.de/10009019574
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The Case for a Long-Run Inflation Target of Four Percent
Ball, Laurence M. - International Monetary Fund (IMF) - 2014
Many central banks target an inflation rate near two percent. This essay argues that policymakers would do better to … target four percent inflation. A four percent target would ease the constraints on monetary policy arising from the zero … cost, because four percent inflation does not harm an economy significantly. …
Persistent link: https://www.econbiz.de/10010790372
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Impact of Demographic Changes on Inflation and the Macroeconomy
Yoon, Jong-Won; Kim, Jinill; Lee, Jungjin - International Monetary Fund (IMF) - 2014
variables move over time and analyzes how they influence macroeconomic variables such as economic growth, inflation, savings and …
Persistent link: https://www.econbiz.de/10011123847
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Getting to Know GIMF; The Simulation Properties of the Global Integrated Monetary and Fiscal Model
Anderson, Derek; Hunt, Ben; Kortelainen, Mika; Kumhof, … - International Monetary Fund (IMF) - 2013
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. Using a 5-region version of the GIMF, this paper illustrates the model’s...
Persistent link: https://www.econbiz.de/10011242434
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Guatemala; Selected Issues and Analytical Notes
International Monetary Fund (IMF); International … - 2013
This Selected Issues paper estimates both Guatemala’s potential output and output gap using a wide range of econometric techniques. The analysis suggests that Guatemala’s potential output growth is about 3.5 percent for the whole sample period and that the output gap is almost...
Persistent link: https://www.econbiz.de/10011243930
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Monetary Policy Transmission in the GCC Countries
Prasad, Ananthakrishnan; Espinoza, Raphael A. - International Monetary Fund (IMF) - 2012
policy has a strong and statistically significant impact on broad money, non-oil activity, and inflation in the GCC region …
Persistent link: https://www.econbiz.de/10010878414
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Credit Growth and the Effectiveness of Reserve Requirements and Other Macroprudential Instruments in Latin America
International Monetary Fund (IMF); International … - 2012
Over the past decade policy makers in Latin America have adopted a number of macroprudential instruments to manage the procyclicality of bank credit dynamics to the private sector and contain systemic risk. Reserve requirements, in particular, have been actively employed. Despite their...
Persistent link: https://www.econbiz.de/10010878415
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Food Inflation in India: The Role for Monetary Policy
Anand, Rahul; Ding, Ding; Tulin, Volodymyr - International Monetary Fund (IMF) - 2014
of food inflation in informing inflation expectations and wage setting. Analysis suggests that in order to durably reduce …Indian food and fuel inflation has remained high for several years, and second-round effects on core inflation are … model of the Indian economy, which incorporates pass-through from headline inflation to core inflation. The results indicate …
Persistent link: https://www.econbiz.de/10010959475
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Czech Republic; Technical Note on Macroprudential Policy Framework
International Monetary Fund (IMF); International … - 2012
This technical note examines the macroprudential policy framework in the Czech Republic. The Czech National Bank (CNB) has been actively developing its macroprudential policy framework for some time, including most recently the establishment of a separate Financial Stability Department. The...
Persistent link: https://www.econbiz.de/10011244175