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  • General Aggregative Models: Keynes; Keynesian; Post-Keynesian x
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Michal Andrle, Patrick Blagrave, Pedro Espaillat, Ms. Keiko Honjo, Mr. Benjamin L Hunt, Mika Kortelainen, René Lalonde, Mr. Douglas Laxton, Eleonara Mavroeidi, Mr. Dirk V Muir, Susanna Mursula, and Stephen Snudden
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, forward-looking semi-structural global model consisting of 24 regions. Using the three core modules focused on the G-20, the euro area, and emerging market economies, this paper outlines the theory under-pinning the model, and illustrates its macroeconomic properties by presenting its responses under a wide range of experiments, including monetary, financial, demand, supply, fiscal and international shocks.