Author/Editor: Benjamin L Hunt, Susanna Mursula, Rafael A Portillo, Marika Santoro.

Release Date:December, 2020

In this paper, we investigate the mechanisms through which import tariffs impact the macroeconomy in two large scale workhorse models used for quantitative policy analysis: a computational general more...

Author/Editor: Emanuel Kopp, Daniel Leigh, Susanna Mursula, Suchanan Tambunlertchai.

Release Date:May, 2019

There is no consensus on how strongly the Tax Cuts and Jobs Act (TCJA) has stimulated U.S. private fixed investment. Some argue that the business tax provisions spurred investment by cutting the cost more...

Author/Editor: Vitor Gaspar, Maurice Obstfeld, Ratna Sahay, Douglas Laxton, Dennis P Botman, Kevin Clinton, Romain A Duval, Kotaro Ishi, Zoltan Jakab, Laura Jaramillo, Constant A Lonkeng Ngouana, Tommaso Mancini Griffoli, Joannes Mongardini, Susanna Mursula, Erlend Nier, Yulia Ustyugova, Hou Wang, Oliver Wuensch.

Release Date:September, 2016

The recovery in GDP growth since the global financial crisis has been halting and weak. Concern is widespread that countercyclical policies have run out of space or lack the power to raise growth or more...

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...

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...

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...

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...

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...

Author/Editor: Douglas Laxton, Susanna Mursula, Kevin Clinton, Michael Kumhof.

Release Date:July, 2010

The paper evaluates the costs and benefits of fiscal consolidation using simulations based on the IMFs global DSGE model GIMF. Over the longer run, well-targeted permanent reductions in budget more...

Author/Editor: Michael Kumhof, Dirk Muir, Carlos de Resende, Jan in ‘t Veld, René Lalonde, Davide Furceri, Annabelle Mourougane, John Roberts, Stephen Snudden, Mathias Trabandt, G

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