 | Wage Moderation in Crises : Policy Considerations and Applications to the Euro Area Author/Editor: Jörg Decressin, Raphael A. Espinoza, Ioannis Halikias, Michael Kumhof, Daniel Leigh, Prakash Loungani, Paulo A. Medas, Susanna Mursula, Antonio Spilimbergo, TengTeng Xu. Release Date:November, 2015 The paper studies the impacts of wage moderation in the euro area. Simulation results show that if a single euro area crisis-hit economy undertakes wage moderation, the impact on output is positive more...
| Price: $10.00
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 | 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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| Financial Crises in DSGE Models: Selected Applications of MAPMOD Author/Editor: Jaromir Benes, Michael Kumhof, Douglas Laxton. Release Date:April, 2014 This paper, together with a technical companion paper, presents MAPMOD, a new IMF model designed to study vulnerabilities associated with excessive credit expansions, and to support macroprudential more...
| Price: $18.00
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| Financial Crises in DSGE Models: A Prototype Model Author/Editor: Jaromir Benes, Michael Kumhof, Douglas Laxton. Release Date:April, 2014 This paper presents the theoretical structure of MAPMOD, a new IMF model designed to study vulnerabilities associated with excessive credit expansions, and to support macroprudential policy analysis. more...
| Price: $18.00
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| The Benefits of International Policy Coordination Revisited Author/Editor: Jaromir Benes, Michael Kumhof, Douglas Laxton, Dirk Muir, Susanna Mursula. Release Date:December, 2013 This paper uses two of the IMF’s DSGE models to simulate the benefits of international fiscal and macroprudential policy coordination. The key argument is that these two policies are similar in more...
| Price: $18.00
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| Inequality, Leverage and Crises: The Case of Endogenous Default Author/Editor: Michael Kumhof, Romain Ranciere, Pablo Winant. Release Date:December, 2013 The paper studies how high household leverage and crises can arise as a result of changes in the income distribution. Empirically, the periods 1920-1929 and 1983-2008 both exhibited a large increase more...
| Price: $18.00
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| Getting to Know GIMF : The Simulation Properties of the Global Integrated Monetary and Fiscal Model Author/Editor: Derek Anderson, Benjamin Hunt, Mika Kortelainen, Michael Kumhof, Douglas Laxton, Dirk Muir, Susanna Mursula, Stephen Snudden. Release Date:February, 2013 The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region, forward-looking, DSGE model developed by the Economic Modeling Division of the IMF for policy analysis and international more...
| Price: $18.00
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 | Oil and the World Economy: Some Possible Futures Author/Editor: Michael Kumhof, Dirk Muir. Release Date:October, 2012 This paper, using a six-region DSGE model of the world economy, assesses the GDP and current account implications of permanent oil supply shocks hitting the world economy at an unspecified future more...
| Price: $18.00
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| The Chicago Plan Revisited Author/Editor: Jaromir Benes, Michael Kumhof. Release Date:August, 2012 At the height of the Great Depression a number of leading U.S. economists advanced a
proposal for monetary reform that became known as the Chicago Plan. It envisaged the
separation of the monetary more...
| Price: $18.00
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| The Future of Oil: Geology versus Technology Author/Editor: Jaromir Benes, Marcelle Chauvet, Ondra Kamenik, Michael Kumhof, Douglas Laxton, Susanna Mursula, Jack Selody. Release Date:May, 2012 We discuss and reconcile two diametrically opposed views concerning the future of world oil
production and prices. The geological view expects that physical constraints will dominate
the future more...
| Price: $18.00
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