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The Role of MULTIMOD in the IMF's Policy Analysis

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  • Mr. Peter Isard

Abstract

This paper describes the basic structure, underlying philosophy, and key behavioral properties of MULTIMOD. It also focuses on several recent applications of macromodels in the IMF’s policy analysis, emphasizing that most questions put forward for analysis with models like MULTIMOD are initially posed in ways that cannot be addressed by simply pushing a computer key. Meaningful macromodel-based policy analysis requires a sensibly structured and parameterized macromodel, but it also generally requires considerable probing of the nature of the policy issues in order to reformulate policy questions in terms of well-defined exogenous shocks.

Suggested Citation

  • Mr. Peter Isard, 2000. "The Role of MULTIMOD in the IMF's Policy Analysis," IMF Policy Discussion Papers 2000/005, International Monetary Fund.
    • Handle: RePEc:imf:imfpdp:2000/005
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