 | Banks in The Global Integrated Monetary and Fiscal Model Author/Editor: Michal Andrle, Michael Kumhof, Douglas Laxton, Dirk Muir. Release Date:July, 2015 The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region DSGE modeldeveloped by the Economic Modeling Division of the IMF for policy and scenario analysis.This paper compares two more...
| Price: $18.00
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 | Reforming Fiscal Governance in the European Union Author/Editor: Michal Andrle, John C Bluedorn, Luc Eyraud, Tidiane Kinda, Petya Koeva Brooks, Gerd Schwartz, Anke Weber. Release Date:May, 2015 Successive reforms have brought many positive elements to the European Union’s fiscal framework. But they have also increased its complexity. The current system involves an intricate set of fiscal more...
| Price: $10.00
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| The Flexible System of Global Models – FSGM Author/Editor: Michal Andrle, Patrick Blagrave, Pedro Espaillat, Keiko Honjo, Benjamin Hunt, Mika Kortelainen, René Lalonde, Douglas Laxton, Eleonara Mavroeidi, Dirk Muir, Susanna Mursula, Stephen Snudden. Release Date:March, 2015 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, more...
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| A Model-Based Analysis of Spillovers: The Case of Poland and the Euro Area Author/Editor: Michal Andrle, Roberto Garcia-Saltos, Giang Ho. Release Date:October, 2014 This paper studies economic and financial spillovers from the euro area to Poland in a two-country semi-structural model. The model incorporates various channels of macrofinancial linkages and more...
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| System Priors: Formulating Priors about DSGE Models' Properties Author/Editor: Michal Andrle, Jaromir Benes. Release Date:December, 2013 This paper proposes a novel way of formulating priors for estimating economic models. System priors are priors about the model's features and behavior as a system, such as the sacrifice ratio or the more...
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| Money Targeting in a Modern Forecasting and Policy Analysis System: an Application to Kenya Author/Editor: Michal Andrle, Andrew Berg, Enrico Berkes, Rafael A Portillo, Jan Vlcek, R Armando Morales. Release Date:November, 2013 We extend the framework in Andrle and others (2013) to incorporate an explicit role for money targets and target misses in the analysis of monetary policy in low-income countries (LICs), with an more...
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| The Role of Domestic and External Shocks in Poland: Results from an Agnostic Estimation Procedure Author/Editor: Michal Andrle, Roberto Garcia-Saltos, Giang Ho. Release Date:October, 2013 This paper discusses interlinkages between Poland and the euro zone using a simple and agnostic econometric approach. Specifically, we estimate a trend-cycle VAR model using data for real and nominal more...
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| Inflation and Output Comovement in the Euro Area: Love at Second Sight? Author/Editor: Michal Andrle, Jan Bruha, Serhat Solmaz. Release Date:September, 2013 This paper discusses comovement between inflation and output in the euro area. The strength of the comovement may not be apparent at first sight, but is clear at business cycle frequencies. Our more...
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| What Is in Your Output Gap? Unified Framework & Decomposition into Observables Author/Editor: Michal Andrle. Release Date:May, 2013 This paper discusses several popular methods to estimate the ‘output gap’. It provides a unified, natural concept for the analysis, and demonstrates how to decompose the output gap into more...
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| Understanding DSGE Filters in Forecasting and Policy Analysis Author/Editor: Michal Andrle. Release Date:May, 2013 This paper introduces methods that allow analysts to (i) decompose the estimates of unobserved quantities into observed data, (ii) to better understand revision properties of the model, and (iii) to more...
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