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

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

No 2013/055, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: WP; real interest rate; cost of capital; demand; interest rate; business cycle; fiscal multipliers; fiscal consolidation; fiscal policy; general equilibrium models; interest rates; macroeconomic interdependence; monetary policy; policy effects; simulation; goods sector; consumption goods; price inflation; investment goods; interest rate rule; CPI inflation rise; world real interest rate; output price; price effect; inflation rise; goods price; Real interest rates; Inflation; Consumption; Real effective exchange rates; Central bank policy rate; Global (search for similar items in EconPapers)
Pages: 66
Date: 2013-02-27
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Citations: View citations in EconPapers (61)

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