Front Matter Page
IMF Institute and Research Department
Authorized for distribution by Tamim Bayoumi and Samir El-Khouri
Contents
I. Introduction
II. Evidence
III. Model
A. Basic Setup
B. Firm Behavior
C. Household Behavior, Asset Markets
D. Variations
IV. Performance of Different Models
A. Parameter Values
B. Basic Results
C. Sensitivity Analysis
V. Conclusions
References
Text Tables
1. The Response of Different Prices to an Exchange Rate Shock: Non-U.S. G-7 Countries
2. Comparison of Different Models
3. Parameter Values
4. Relative Performance of Different Models: Fixed Parameter Values
5. Relative Performance of Different Models: Optimal Parameter Values
Figures
1. Response of Different Prices to an Exchange Rate Shock: Average Non-U.S. G-7 Countries
2. Performance of Models 1, 2, and 3: Fixed Parameter Values
3. Performance of Models 4, 5, and 6: Fixed Parameter Values
4. Performance of Models 7 and 8: Fixed Parameter Values
5. Performance of Models 7 and 8: Optimal Parameter Values