Home eBooks Download › the global macrofinancial model

The Global Macrofinancial Model

Download The Global Macrofinancial Model PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get The Global Macrofinancial Model book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page

The Global Macrofinancial Model

DOWNLOAD

Author : Francis Vitek
language : en
Publisher: International Monetary Fund
Release Date : 2018-04-09

The Global Macrofinancial Model written by Francis Vitek and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-09 with Business & Economics categories.

This paper documents the theoretical structure and empirical properties of the latest version of the Global Macrofinancial Model (GFM). This dynamic stochastic general equilibrium model of the world economy, disaggregated into forty national economies, was developed to support multilaterally consistent macrofinancial policy, risk and spillover analysis. It features a range of nominal and real rigidities, extensive macrofinancial linkages, and diverse spillover transmission channels. These macrofinancial linkages encompass bank and capital market based financial intermediation, with financial accelerator mechanisms linked to the values of the housing and physical capital stocks. A variety of monetary policy analysis, fiscal policy analysis, macroprudential policy analysis, spillover analysis, and forecasting applications of the GFM are demonstrated. These include quantifying the monetary, fiscal and macroprudential policy transmission mechanisms, accounting for business cycle fluctuations, and generating relatively accurate forecasts of inflation and output growth.

Macrofinancial Modeling At Central Banks

DOWNLOAD

Author : Mr.Scott Roger
language : en
Publisher: International Monetary Fund
Release Date : 2012-01-01

Macrofinancial Modeling At Central Banks written by Mr.Scott Roger and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-01 with Business & Economics categories.

This paper surveys dynamic stochastic general equilibrium models with financial frictions in use by central banks and discusses priorities for future development of such models for the purpose of monetary and financial stability analysis. It highlights the need to develop macrofinancial models which allow analysis of the macroeconomic effects of macroprudential policy tools and to evaluate elements of the Basel III reforms as a priority. The paper also reviews the main approaches to introducing financial frictions into general equilibrium models.

Macrofinancial Analysis In The World Economy

DOWNLOAD

Author : Francis Vitek
language : en
Publisher:
Release Date : 2015

Macrofinancial Analysis In The World Economy written by Francis Vitek and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Bank loans categories.

Dealing With The Challenges Of Macro Financial Linkages In Emerging Markets

DOWNLOAD

Author : Otaviano Canuto
language : en
Publisher: World Bank Publications
Release Date : 2013-10-29

Dealing With The Challenges Of Macro Financial Linkages In Emerging Markets written by Otaviano Canuto and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10-29 with Business & Economics categories.

This book deals with the challenges of macro financial linkages in the emerging markets.

Gem

DOWNLOAD

Author : Tamim A. Bayoumi
language : en
Publisher:
Release Date : 2004

Gem written by Tamim A. Bayoumi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Economic policy categories.

"A nontechnical overview of the Global Economic Model (GEM), a new multicountry model based on strong microeconomic underpinnings developed in the Research Department of the IMF." - preface.

Modeling With Macro Financial Linkages

DOWNLOAD

Author : Ms.Inci Ötker
language : en
Publisher: International Monetary Fund
Release Date : 2009-06

Modeling With Macro Financial Linkages written by Ms.Inci Ötker and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06 with Business & Economics categories.

This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups-industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose macroeconomic fluctuations in key macroeconomic aggregates-output, consumption, and investment-into different factors. These are: (i) a global factor, which picks up fluctuations that are common across all variables and countries; (ii) three group-specific factors, which capture fluctuations that are common to all variables and all countries within each group of countries; (iii) country factors, which are common across all aggregates in a given country; and (iv) idiosyncratic factors specific to each time series. Our main result is that, during the period of globalization (1985-2005), there has been some convergence of business cycle fluctuations among the group of industrial economies and among the group of emerging market economies. Surprisingly, there has been a concomitant decline in the relative importance of the global factor. In other words, there is evidence of business cycle convergence within each of these two groups of countries but divergence (or decoupling) between them.

Frontiers Of Macrofinancial Linkages

DOWNLOAD

Author : Stijn Claessens
language : en
Publisher:
Release Date : 2018

Frontiers Of Macrofinancial Linkages written by Stijn Claessens and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.

The Great Financial Crisis of 2007-09 confirmed the vital importance of advancing our understanding of macrofinancial linkages, the two-way interactions between the real economy and the financial sector. The crisis was a bitter reminder of how sharp fluctuations in asset prices, credit and capital flows can have dramatic impact on the financial positions of households, corporations and sovereign nations. As fluctuations were amplified, the global financial system was brought to the brink of collapse and the deepest contraction in world output in more than half a century followed. Moreover, unprecedented challenges for fiscal, monetary and financial regulatory policies resulted.The crisis revived an old debate in the economics profession about the importance of macrofinancial linkages. Some argue that the crisis was a painful reminder of our limited knowledge of these linkages. Others claim that the profession had already made substantial progress in understanding them but that there was too much emphasis on narrow approaches and modelling choices. Yet, most also recognise that the absence of a unifying framework to study these two-way interactions has limited the practical applications of existing knowledge and impeded the formulation of policies.With these observations in mind, this paper presents a systematic review of the rapidly expanding literature on macrofinancial linkages. It first surveys the literature on the linkages between asset prices and macroeconomic outcomes. It then reviews the literature on the macroeconomic implications of financial imperfections. It also examines the global dimensions of macrofinancial linkages and documents the main stylized facts about the linkages between the real economy and the financial sector. The topic of macrofinancial linkages promises to remain an exciting area of research, given the many open questions and significant policy interest. The paper concludes with a discussion of possible directions for future research, stressing the need for richer theoretical models, more robust empirical work and better quality data so as to advance knowledge and help guide policymakers going forward.

The Global Macrofinancial Model

DOWNLOAD

Author : Francis Vitek
language : en
Publisher: International Monetary Fund
Release Date : 2018-04-09

Macrofinancial Linkages

DOWNLOAD

Author : Christopher W. Crowe
language : en
Publisher: International Monetary Fund
Release Date : 2010

Macrofinancial Linkages written by Christopher W. Crowe and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.

Macrofinancial linkages have long been at the core of the IMF's mandate to oversee the stability of the global financial system. With the advent of the economic crisis, the Fund has drawn on its research in order to contribute to critical debates on the nature of appropriate policy responses at both the national and multilateral levels. This volume brings together writings by IMF economists on macrofinancial issues, and highlights the issues and approaches that have guided IMF thinking in an area that makes up an increasingly important component of the IMF's overall remit.--Publisher's description.

Assessing Macro Financial Linkages

DOWNLOAD

Author : Rafael Gerke
language : en
Publisher:
Release Date : 2016

Assessing Macro Financial Linkages written by Rafael Gerke and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.

The recent global financial crisis has increased interest in macroeconomic models that incorporate financial linkages. Here, we compare the simulation properties of five mediumsized general equilibrium models used in Eurosystem central banks which incorporate such linkages. The financial frictions typically considered are the financial accelerator mechanism (convex spread costs related to firms' leverage ratios) and collateral constraints (based on asset values). The harmonized shocks we consider illustrate the workings and mechanisms underlying the financial-macro linkages embodied in the models. We also look at historical shock decompositions of real GDP growth across the models since 2005 in order to shed light on the common driving factors underlying the recent financial crisis. In these exercises, the models share qualitatively similar and interpretable features. This gives us confidence that we have some broad understanding of the mechanisms involved. In addition, we also survey the current and developing trends in the literature on financial frictions.

The Global Macrofinancial Model

Recent Posts