Posted
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March 25, 2015 06:48:22 AM |
Date
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2015-03 |
Author
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Michal Andrle, Patrick Blagrave, Keiko Honjo, Ben Hunt, Mika Kortelainen, René Lalonde, Douglas Laxton, Dirk Muir, Susanna Mursula, and Stephen Snudden |
Affiliation
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Research Department, IMF |
Title
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The Flexible System of Global Models – FSGM |
Summary / Abstract
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The Flexible System of Global Models (FSGM) is a group of models developed by the Economic Modeling Division of the IMF for policy analysis. A typical module of FSGM is a multi-region, forward-looking semi-structural global model consisting of 24 regions. Using the three core modules focused on the G-20, the euro area, and emerging market economies, this paper outlines the theory under-pinning the model, and illustrates its macroeconomic properties by presenting its responses under a wide range of experiments, including monetary, financial, demand, supply, fiscal and international shocks. |
Keywords
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Monetary policy; fiscal policy; dynamic stochastic general equilibrium models; macroeconomic interdependence |
URL
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http://www.imf.org/external/pubs/ft/wp/2015/wp1564.pdf
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See
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