IDEAS home Printed from
   My bibliography  Save this paper

Evaluating global macroeconomic models : a case study of MULTIMOD


  • Jamshidi, Ahmad


This paper is a contribution to the understanding of global interconnections through the evaluation and validation of the capabilities and properties of MULTIMOD, a multiregional macroeconomic model, developed and maintained at the International Monetary Fund. The author finds the model relatively small and simple in its theoretical specification, but advanced in its modeling techniques, exemplified by its"forward looking"features. This property allows faster adjustment of all prices, including exchange rates and interest rates, than do conventional macro models. A major strength of the model is the effective transmission of policy changes across countries. MULTIMOD can also be used to discuss North-South issues. Simulation examples are presented for monetary and fiscal policy scenarios in the North (with their impacts on the developing economies), oil price shocks, and debt relief schemes.

Suggested Citation

  • Jamshidi, Ahmad, 1989. "Evaluating global macroeconomic models : a case study of MULTIMOD," Policy Research Working Paper Series 298, The World Bank.
  • Handle: RePEc:wbk:wbrwps:298

    Download full text from publisher

    File URL:
    Download Restriction: no

    References listed on IDEAS

    1. Fair, Ray C & Taylor, John B, 1983. "Solution and Maximum Likelihood Estimation of Dynamic Nonlinear Rational Expectations Models," Econometrica, Econometric Society, vol. 51(4), pages 1169-1185, July.
    Full references (including those not matched with items on IDEAS)


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wbk:wbrwps:298. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Roula I. Yazigi). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.