GEM

A New International Macroeconomic Model

• Author(s): Mr.Ivan Tchakarov, Mr.Philippe D Karam, Mr.Tamim Bayoumi, Mr.Hamid Faruqee, Mr.Benjamin Hunt, Mr.Douglas Laxton, Mr.Jaewoo Lee, Mr.Alessandro Rebucci,
• Publisher: International Monetary Fund
• Pages: 34
• ISBN_10: 1589063759
  ISBN_13: 9781589063754
  
• Language: en
• Categories: Business & Economics / Economics / Macroeconomics , Business & Economics / Finance / General , Business & Economics / Inflation ,

Description:... 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.