Showing 1 - 10 of 11
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
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/10013073680
This paper provides some empirical estimates on how tightly is it feasible to control inflation in a very small open economy such as Iceland. Estimated macroeconomic models of Canada, Iceland, New Zealand, the United Kingdom, and the United States are used to derive efficient monetary policy...
Persistent link: https://www.econbiz.de/10012777966
This paper uses a multi-region, forward-looking, DSGE model to estimate the macroeconomic impact of a tax reform that replaces a corporate income tax (CIT) with a destination-based cash-flow tax (DBCFT). Two key channels are at play. The first channel is the shift from an income tax to a...
Persistent link: https://www.econbiz.de/10012892930
China's transition to a new growth model continues and the impact has been felt across the globe. Several trends contribute to the 'maturing' of China's economy: i) structural slowing on the convergence path; ii) on-shoring deepening; and iii) demand rebalancing from investment towards...
Persistent link: https://www.econbiz.de/10012977756
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 find substantial deflationary pressures from aging, mainly...
Persistent link: https://www.econbiz.de/10013048366
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
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. This paper uses GIMF to illustrate when a destination-based cash-flow tax is...
Persistent link: https://www.econbiz.de/10012929934
The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region, forward-looking,DSGE model developed at the International Monetary Fund for policy analysis and internationaleconomic research. This paper documents the incorporation of corporate income, cash-flow anddestination based...
Persistent link: https://www.econbiz.de/10012929950
In this paper, we investigate the mechanisms through which import tariffs impact the macroeconomy in two large scale workhorse models used for quantitative policy analysis: a computational general equilibrium (CGE) model (Purdue University GTAP model) and a multi-country dynamic stochastic...
Persistent link: https://www.econbiz.de/10013250082