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Macrofinance Model of the Czech Economy

Macrofinance Model of the Czech Economy »

Source: Macrofinance Model of the Czech Economy : Asset Allocation Perspective

Volume/Issue: 2012/78

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2012

ISBN: 9781475502305

Keywords: yield curve modeling, macrofinance modeling, vector auto-regression model, bond, bond yield, government bond, bond yields, correlation, Econometric Modeling: General,

The paper developes a VAR macrofinance model of the Czech economy. It shows that yield misalignments from the yields implied by the macrofinance model partially determine subsequent yield changes over three to nine...

GEM
			: A New International Macroeconomic Model

GEM : A New International Macroeconomic Model »

Series: Occasional Papers

Author(s): Tamim Bayoumi , Hamid Faruqee , Douglas Laxton , Philippe Karam , Alessandro Rebucci , Jaewoo Lee , Benjamin Hunt , and Ivan Tchakarov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2004

DOI: http://dx.doi.org/10.5089/9781589063754.084

ISBN: 9781589063754

Keywords: Economic models, inflation, monetary policy, aggregate demand, monetary fund, oil prices

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 pred...

Labor Market Institutions and Unemployment Dynamics in Transition Economies

Labor Market Institutions and Unemployment Dynamics in Transition Economies »

Source: Labor Market Institutions and Unemployment Dynamics in Transition Economies

Volume/Issue: 1997/137

Series: IMF Working Papers

Author(s): Pietro Garibaldi , and Zuzana Brixiova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1997

ISBN: 9781451930566

Keywords: Unemployment, Transition Economies, Matching Models, wage, minimum wage, wages, benefits

This paper studies interactions between labor market institutions and unemployment dynamics in transition economies. It presents a dynamic matching model in which state sector firms endogenously shed labor and priv...

Challenges to Monetary Policy in the Czech Republic-An Integrated Monetary and Fiscal Analysis

Challenges to Monetary Policy in the Czech Republic-An Integrated Monetary and Fiscal Analysis »

Source: Challenges to Monetary Policy in the Czech Republic-An Integrated Monetary and Fiscal Analysis

Volume/Issue: 2008/72

Series: IMF Working Papers

Author(s): Sònia Muñoz , and Céline Allard

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2008

ISBN: 9781451869347

Keywords: Macroeconomic model, Policy coordination, inflation, inflation target, monetary fund, national bank,

This paper uses the Global Integrated Monetary and Fiscal Model (GIMF), a New Keynesian open-economy general equilibrium model suitable for an integrated evaluation of monetary and fiscal policies, to analyze monet...

Czech Magic

Czech Magic »

Source: Czech Magic : Implementing Inflation-Forecast Targeting at the CNB

Volume/Issue: 2017/21

Series: IMF Working Papers

Author(s): Kevin Clinton , Tibor Hlédik , Tomás Holub , Douglas Laxton , and Hou Wang

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2017

ISBN: 9781475572971

Keywords: Inflation targeting, Czech Republic, Central banks, Monetary policy, Forecasting models, Inflation Targeting, Monetary Policy, Optimal Control

This paper describes the CNB's experience implementing an inflation-forecast targeting (IFT) regime, and the building of a system for providing the economic information that policymakers need to implement IFT. The...

The Convergence Dynamics of a Transition Economy

The Convergence Dynamics of a Transition Economy »

Source: The Convergence Dynamics of a Transition Economy : The Case of the Czech Republic

Volume/Issue: 2007/116

Series: IMF Working Papers

Author(s): Jan Bruha , Jiri Podpiera , and Stanislav Polak

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2007

ISBN: 9781451866803

Keywords: Two-country modeling, Convergence, exchange rate, real exchange rate, transition economy, transition economies, exchange rate appreciation, Covergence,

In this paper we develop a two-country dynamic general equilibrium model by means of which we seek to explain the long-run paths of a converging emerging market economy. We borrow a paradigm from the New Open Econo...

Effects of Fiscal Consolidation in the Czech Republic

Effects of Fiscal Consolidation in the Czech Republic »

Source: Effects of Fiscal Consolidation in the Czech Republic

Volume/Issue: 2011/65

Series: IMF Working Papers

Author(s): Stephen Snudden , and Vladimir Klyuev

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2011

ISBN: 9781455228058

Keywords: fiscal multipliers, general equilibrium models., fiscal rule, aggregate demand, labor income, consumption tax, National Budget, Deficit, and Debt: General,

This paper uses the IMF's Global Integrated Monetary and Fiscal Model (GIMF) to assess the impact of fiscal consolidation on the Czech economy. Its contribution is threefold. First, it provides estimates of dynamic...

Macroeconomic Effects and Policy Challenges of Population Aging

Macroeconomic Effects and Policy Challenges of Population Aging »

Source: Macroeconomic Effects and Policy Challenges of Population Aging

Volume/Issue: 2006/95

Series: IMF Working Papers

Author(s): Hamid Faruqee , and Natalia Tamirisa

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2006

ISBN: 9781451863550

Keywords: simulation, general equilibrium model, dependency ratio, labor income, labor force, retirement, birth, Social Security and Public Pensions, Macroeconomic Aspects of International Trade and Finance: Forecasting and Simulation,

This paper simulates the macroeconomic effects of population aging in a dynamic overlapping generations model of a small open economy. The model is calibrated to data for the Czech Republic, where population aging...

I Overview

I Overview »

Source: GEM : A New International Macroeconomic Model

Series: Occasional Papers

Author(s): Tamim Bayoumi , Hamid Faruqee , Douglas Laxton , Philippe Karam , Alessandro Rebucci , Jaewoo Lee , Benjamin Hunt , and Ivan Tchakarov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2004

ISBN: 9781589063754

Keywords: Economic models, inflation, monetary policy, aggregate demand, monetary fund, oil prices

Over the last two years, IMF staff has been developing a new multicountry macroeconomic model called the Global Economy Model (GEM). An obvious question is why such a model is needed, given that...

II Philosophy and Approach

II Philosophy and Approach »

Source: GEM : A New International Macroeconomic Model

Series: Occasional Papers

Author(s): Tamim Bayoumi , Hamid Faruqee , Douglas Laxton , Philippe Karam , Alessandro Rebucci , Jaewoo Lee , Benjamin Hunt , and Ivan Tchakarov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 November 2004

ISBN: 9781589063754

Keywords: Economic models, inflation, monetary policy, aggregate demand, monetary fund, oil prices

Why a New Model? The development and rationale for GEM can be best explained through a brief description of the role of large macroeconomic policy models. Academic work in macroecono...