Banks in The Global Integrated Monetary and Fiscal Model
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Summary:
The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region DSGE model developed by the Economic Modeling Division of the IMF for policy and scenario analysis. This paper compares two versions of GIMF, GIMF with a conventional financial accelerator, where bank balance sheets do not play a prominent role, and GIMF with both a financial accelerator and a fully specified banking sector that can make lending losses, and that is regulated according to Basel-III. We illustrate the comparative macroeconomic properties of both models by presenting their responses to a wide range of fiscal, demand, supply and financial shocks.
Series:
Working Paper No. 2015/150
Subject:
Bank credit Banking Capital adequacy requirements Consumption Financial institutions Financial services Income Loans Money National accounts Real interest rates
English
Publication Date:
July 10, 2015
ISBN/ISSN:
9781513532967/1018-5941
Stock No:
WPIEA2015150
Pages:
49
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