DSGE Modeling At the Fund [electronic resource] : Applications and Further Developments, Botman, Dennis P. J..
- Washington, D.C. : International Monetary Fund, 2007.
- IMF eLibrary
IMF Working Papers; Working Paper No. 07/200.
IMF Working Papers; Working Paper No. 07/200
- Government document
1 online resource (41 p.)
- Local subjects:
- Account deficits.
Aggregate demand effects.
Fiscal affairs department.
Increase in consumption.
Monetary policy implications.
Monetary policy reaction function.
Monetary policy rule.
Monetary policy rules.
Monetary transmission mechanism.
Optimal monetary policy.
- Researchers in policymaking institutions have expended significant effort to develop a new generation of macro models with more rigorous microfoundations. This paper provides a summary of the applications of two of these models. The Global Economy Model is a quarterly model that features a large assortment of nominal and real rigidities, which are necessary to create plausible short-run dynamics. However, because this model is based on a representative-agent paradigm, its Ricardian features make it unsuitable to study many fiscal policy issues. The Global Fiscal Model, which is an annual model that uses an overlappinggenerations structure, has been designed to analyze the longer-term consequences of alternative fiscal policies.
- Description based on print version record.
- Botman, Dennis P. J.
- Other format:
- Print Version:
- Publisher Number:
- Access Restriction:
- Restricted for use by site license.
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