The Role of MULTIMOD in the IMF's Policy Analysis

Peter Isard

No 2000/005, IMF Policy Discussion Papers from International Monetary Fund

Abstract: This paper describes the basic structure, underlying philosophy, and key behavioral properties of MULTIMOD. It also focuses on several recent applications of macromodels in the IMF’s policy analysis, emphasizing that most questions put forward for analysis with models like MULTIMOD are initially posed in ways that cannot be addressed by simply pushing a computer key. Meaningful macromodel-based policy analysis requires a sensibly structured and parameterized macromodel, but it also generally requires considerable probing of the nature of the policy issues in order to reformulate policy questions in terms of well-defined exogenous shocks.

Keywords: PDP; MULTIMOD; exchange rate; monetary policy; interest rate; macroeconomic policy analysis; MULTIMOD philosophy; way MULTIMOD; inflation expectation; reaction function; imprudent monetary policy reaction; Conventional peg; Exchange rates; Exchange rate arrangements; Inflation; Global (search for similar items in EconPapers)
Pages: 27
Date: 2000-06-01
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=3603 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfpdp:2000/005

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Policy Discussion Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().