GEM: A New International Macroeconomic Model

Business & Finance, Economics, Public Finance, Finance & Investing, Banks & Banking, Macroeconomics
Cover of the book GEM: A New International Macroeconomic Model by Tamim Mr. Bayoumi, Hamid Mr. Faruqee, Douglas Mr. Laxton, Philippe Mr. Karam, Alessandro Mr. Rebucci, Jaewoo Mr. Lee, Ben Mr. Hunt, Ivan Tchakarov, INTERNATIONAL MONETARY FUND
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Author: Tamim Mr. Bayoumi, Hamid Mr. Faruqee, Douglas Mr. Laxton, Philippe Mr. Karam, Alessandro Mr. Rebucci, Jaewoo Mr. Lee, Ben Mr. Hunt, Ivan Tchakarov ISBN: 9781452746296
Publisher: INTERNATIONAL MONETARY FUND Publication: November 30, 2004
Imprint: INTERNATIONAL MONETARY FUND Language: English
Author: Tamim Mr. Bayoumi, Hamid Mr. Faruqee, Douglas Mr. Laxton, Philippe Mr. Karam, Alessandro Mr. Rebucci, Jaewoo Mr. Lee, Ben Mr. Hunt, Ivan Tchakarov
ISBN: 9781452746296
Publisher: INTERNATIONAL MONETARY FUND
Publication: November 30, 2004
Imprint: INTERNATIONAL MONETARY FUND
Language: English

Over the past two years, the IMF staff has been developing a new multicountry macroeconomic model called the Global Economy Model (GEM). This paper explains why such a model is needed, how GEM differs from its predecessor model, and how the new features of the model can improve the IMF’s policy analysis. The paper is aimed at a general audience and avoids technical detail. It outlines the motivation, structure, strengths, and limitations of the model; examines three simulation exercises that have been completed; and discusses the future path of GEM.

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Over the past two years, the IMF staff has been developing a new multicountry macroeconomic model called the Global Economy Model (GEM). This paper explains why such a model is needed, how GEM differs from its predecessor model, and how the new features of the model can improve the IMF’s policy analysis. The paper is aimed at a general audience and avoids technical detail. It outlines the motivation, structure, strengths, and limitations of the model; examines three simulation exercises that have been completed; and discusses the future path of GEM.

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