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It's Never Different : Fiscal Policy Shocks and Inflation

Cevik, Serhan; Miryugin, Fedor - 2023

This paper investigates the impact of fiscal shocks on inflation, using a large panel of 139 countries over the period … 1970–2021. First, both headline and core measures of inflation increase in response to expansionary shifts in the fiscal … with care in aggregate demand management as it has significant effects on inflation, which are highly dependent on fiscal …

Persistent link: https://www.econbiz.de/10014354525

Macrofinancial Analysis in the World Economy : A Panel Dynamic Stochastic General Equilibrium Approach

Vitek, Francis - 2016

This paper develops a structural macroeconometric model of the world economy,disaggregated into forty national economies. This panel dynamic stochastic generalequilibrium model features a range of nominal and real rigidities, extensivemacrofinancial linkages, and diverse spillover transmission...

Persistent link: https://www.econbiz.de/10013002153

Policy and Spillover Analysis in the World Economy : A Panel Dynamic Stochastic General Equilibrium Approach

Vitek, Francis - 2014

forecasts of inflation and output growth …

Persistent link: https://www.econbiz.de/10013040410

Policy Analysis and Forecasting in the World Economy : A Panel Unobserved Components Approach

Vitek, Francis - 2012

This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national economies. This panel unobserved components model features a monetary transmission mechanism, a fiscal transmission mechanism, and extensive macrofinancial linkages, both within...

Persistent link: https://www.econbiz.de/10013102206

Policy Analysis and Forecasting in the World Economy : A Panel Dynamic Stochastic General Equilibrium Approach

Vitek, Francis - 2014

This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national economies. This panel unobserved components model encompasses an approximate linear panel dynamic stochastic general equilibrium model featuring a monetary transmission...

Persistent link: https://www.econbiz.de/10013060545

Getting to Know GIMF : The Simulation Properties of the Global Integrated Monetary and Fiscal Model

Anderson, Derek - 2014

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/10013064363

Das Public Kapital : How Much Would Higher German Public Investment Help Germany and the Euro Area?

Elekdaǧ, Selim Ali - 2015

Given the backdrop of pressing infrastructure needs, this paper argues that higher German public investment would not only stimulate domestic demand in the near term and reduce the current account surplus, but would also raise output over the longer-run as well as generate beneficial regional...

Persistent link: https://www.econbiz.de/10013028678

External Adjustment in Oil Exporters : The Role of Fiscal Policy and the Exchange Rate

Behar, Alberto - 2016

After the decline in oil prices, many oil exporters face the need to improve their externalbalances. Special characteristics of oil exporters make the exchange rate an ineffectiveinstrument for this purpose and give fiscal policy a sizeable role. These conclusions aresupported by regression...

Persistent link: https://www.econbiz.de/10012977864

The Flexible System of Global Models – FSGM

Andrle, Michal - 2015

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...

Persistent link: https://www.econbiz.de/10013024429

Bilaterial Equilibrium Exchange Rates of EU Accession Countries Against the Euro

Rahn, Jörg - 2007

We apply BEER and PEER approaches to calculate real equilibrium exchange rates for five EU accession countries in central and east Europe. Bilateral nominal equilibrium exchange rates against the euro are obtained through algebraic transformation of the results. Panel cointegration techniques...

Persistent link: https://www.econbiz.de/10014224092