Anderson, D., Hunt, B., Kortelainen, M., Kumhof, M., Laxton, D., Muir, D., Mursula, S. and Snudden, S., 2013, “Getting to Know GIMF: The Simulation Properties of the Global Integrated Monetary and Fiscal Model”, IMF Working Paper No. 13/55.
Chen, D., Guvenen, F., Kambourov, G. and Kuruscu, B., 2015, “Use It or Lose It: Efficiency Gains from Wealth Taxation,” Working Paper.
Keen, M., Pradhan, M., Kang, K., and De Mooji, R., 2011, “Raising the Consumption Tax in Japan: Why, When, How?,” IMF Staff Discussion Note No. 11/13.
Prepared by Todd Schneider (APD) and Zoltan Jakab (RES).
See IMF Staff Discussion Note (SDN 11/13), Raising the Consumption Tax in Japan: Why, When, How?, Michael Keen, Mahmood Pradhan, Kenneth Kang, and Ruud de Mooji.
Simulations were performed with the 6-region version of Global Integrated Monetary and Fiscal (GIMF) model with the version described in Anderson and others (2013).
Simulations were performed under the assumptions of limited foresight and unconstrained monetary policy. With constrained monetary policy, the conclusions would not change significantly, albeit the negative impacts on growth would be stronger.