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Les modèles DSGE au FMI : applications et développements récents

Listed author(s):
  • Dennis Botman
  • Philippe Karam
  • Douglas Laxton

Researchers in economic policy-making institutions have invested much energy in developing a new generation of macroeconomic models that rely on more solid microeconomic foundations.This article briefly describes applications of two such models. The Global Economy Model (GEM) is a quarterly model comprising a large set of nominal and real rigidities that enable users to generate realistic short-term dynamics. As the model rests on the representative-agent paradigm, its main weakness is that its fundamental theoretical structure does not provide a very realistic characterization of tax-policy effects. By contrast, the Global Fiscal Model (GFM) – an annual model – uses a nested-generation framework, and has been explicitly designed to study the longer-term consequences of alternative tax policies.

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Article provided by La Documentation Française in its journal Economie & prévision.

Volume (Year): n° 183-184 (2008)
Issue (Month): 2 ()
Pages: 175-198

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Handle: RePEc:cai:ecoldc:ecop_183_0175
Contact details of provider: Web page: http://www.cairn.info/revue-economie-et-prevision.htm

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  1. Lane, Philip R., 2001. "The new open economy macroeconomics: a survey," Journal of International Economics, Elsevier, vol. 54(2), pages 235-266, August.
  2. repec:tcd:wpaper:tep16 is not listed on IDEAS
  3. Nicoletta Batini & Papa N'Diaye & Alessandro Rebucci, 2005. "The domestic and global impact of Japan’s policies for growth," Proceedings, Federal Reserve Bank of San Francisco.
  4. Tamim Bayoumi & Douglas Laxton & Paolo Pesenti, 2004. "Benefits and spillovers of greater competition in Europe: a macroeconomic assessment," International Finance Discussion Papers 803, Board of Governors of the Federal Reserve System (U.S.).
  5. Bayoumi, Tamim & Laxton, Douglas & Pesenti, Paolo, 2004. "Benefits and spillovers of greater competition in Europe: a macroeconomic assessment," Working Paper Series 341, European Central Bank.
  6. Brooks,Robin & Razin,Assaf (ed.), 2005. "Social Security Reform," Cambridge Books, Cambridge University Press, number 9780521844956, December.
  7. Douglas Laxton & Andrew Berg & Philippe D Karam, 2006. "A Practical Model-Based Approach to Monetary Policy Analysis—Overview," IMF Working Papers 06/80, International Monetary Fund.
  8. Dirk V Muir & Douglas Laxton & Dennis P Botman & Andrei Romanov, 2006. "A New-Open-Economy Macro Model for Fiscal Policy Evaluation," IMF Working Papers 06/45, International Monetary Fund.
  9. Dennis P Botman & Keiko Honjo, 2006. "Options for Fiscal Consolidation in the United Kingdom," IMF Working Papers 06/89, International Monetary Fund.
  10. Manmohan S. Kumar & Dennis P Botman, 2006. "Fundamental Determinants of the Effects of Fiscal Policy," IMF Working Papers 06/72, International Monetary Fund.
  11. Philip R. Lane & Gian Maria Milesi-Ferretti, 2007. "A Global Perspective on External Positions," NBER Chapters,in: G7 Current Account Imbalances: Sustainability and Adjustment, pages 67-102 National Bureau of Economic Research, Inc.
  12. Tamim Bayoumi & Dennis P Botman & Manmohan S. Kumar, 2005. "Macroeconomic Effects of Social Security and Tax Reform in the United States," IMF Working Papers 05/208, International Monetary Fund.
  13. Orphanides, Athanasios, 2003. "Historical monetary policy analysis and the Taylor rule," Journal of Monetary Economics, Elsevier, vol. 50(5), pages 983-1022, July.
  14. Maximilian Baylor & Louis Beauséjour, "undated". "Taxation and Economic Efficiency: Results from a Canadian CGE Model," Working Papers-Department of Finance Canada 2004-10, Department of Finance Canada.
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