A Model for Financial Programming

Jan Mikkelsen

No 1998/080, IMF Working Papers from International Monetary Fund

Abstract: This paper presents a simple simulation model that enables the formulation of a consistent growth-oriented, medium-term adjustment program. The applied version is available in Excel (using data for El Salvador) and can be used directly as a financial programming tool that provides a range of standard IMF performance criteria together with a complete set of consistent accounts for the real, monetary, public, and external sectors of the economy. Medium- and long-term growth considerations are incorporated through a neoclassical production function at the same time as monetary and fiscal policies are adjusted to satisfy the requirements for internal and external balance.

Keywords: WP; central bank; price level; Financial programming; simulation models; economic growth; El Salvador; GDP deflator; financing gap; monetary policy requirements; rate of inflation; goods price; Disposable income; Consumption; Private consumption; International reserves; Exchange rates (search for similar items in EconPapers)
Pages: 31
Date: 1998-06-01
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Citations: View citations in EconPapers (8)

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