IMF Working Papers

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

By Derek Anderson, Benjamin L Hunt, Mika Kortelainen, Michael Kumhof, Douglas Laxton, Dirk V Muir, Susanna Mursula, Stephen Snudden

February 27, 2013

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Derek Anderson, Benjamin L Hunt, Mika Kortelainen, Michael Kumhof, Douglas Laxton, Dirk V Muir, Susanna Mursula, and Stephen Snudden. Getting to Know GIMF: The Simulation Properties of the Global Integrated Monetary and Fiscal Model, (USA: International Monetary Fund, 2013) accessed November 12, 2024
Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

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 macroeconomic properties by presenting its responses under a wide range of experiments, including fiscal, monetary, financial, demand, supply, and international shocks.

Subject: Central bank policy rate, Consumption, Financial services, Foreign exchange, Inflation, National accounts, Prices, Real effective exchange rates, Real interest rates

Keywords: Business cycle, Central bank policy rate, Consumption, Consumption goods, Cost of capital, CPI inflation rise, Demand, Fiscal consolidation, Fiscal multipliers, Fiscal policy, General equilibrium models, Global, Goods price, Goods sector, Inflation, Inflation rise, Interest rate, Interest rate rule, Interest rates, Investment goods, Macroeconomic interdependence, Monetary policy, Output price, Policy effects, Price effect, Price inflation, Real effective exchange rates, Real interest rate, Real interest rates, Simulation, World real interest rate, WP

Publication Details

  • Pages:

    66

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 2013/055

  • Stock No:

    WPIEA2013055

  • ISBN:

    9781475559415

  • ISSN:

    1018-5941