Repmod: A Smaller Sibling for Multimod

Author: Mr. Guy M Meredith

This paper describes a small macroeconomic model based on a representative industrial-country block of MULTIMOD, the IMF's multi-country simulation model. REPMOD is designed to provide a more flexible and accessible tool for analysis by individual country desks than the full version of MULTIMOD. It also allows the construction of model-consistent baseline paths, in addition to conventional shock-minus-control experiments. After discussing the model's general structure and properties, some distinctive aspects are illustrated via simulations that explore the implications of Japan's liquidity trap.

Volume/Issue: Volume 1999 Issue 008

Publication date: January 1999

ISBN: 9781451842494

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Business and Economics , Banks and Banking , Inflation , Economics- Macroeconomics , Money and Monetary Policy , WP , liquidity trap , output gap , government spending , Phillips curve , macroeconomic models , simulations , GDP deflator , exchange rate targeting , import price inflation , liquidity-trap scenario , inflation rate , price term , import price equation , exchange rate depreciation , projection value , inflation expectation , potential GDP , output-inflation tradeoff , Inflation , Real interest rates , Short term interest rates , Real exchange rates , Deflation , Global , B , target Inflation shock , government spending shock , database generation , REPMOD equation , Japan's liquidity trap

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Summary

This paper describes a small macroeconomic model based on a representative industrial-country block of MULTIMOD, the IMF’s multi-country simulation model. REPMOD is designed to provide a more flexible and accessible tool for analysis by individual country desks than the full version of MULTIMOD. It also allows the construction of model-consistent baseline paths, in addition to conventional shock-minus-control experiments. After discussing the model’s general structure and properties, some distinctive aspects are illustrated via simulations that explore the implications of Japan’s liquidity trap.