GEM: A New International Macroeconomic Model
( Occasional Papers )
Publication series ： Occasional Papers
Author： Mr. Tamim Bayoumi Mr. Hamid Faruqee Mr. Douglas Laxton Mr. Philippe D Karam Mr. Alessandro Rebucci Mr. Jaewoo Lee Mr. Ben Hunt Ivan Tchakarov
Publisher： INTERNATIONAL MONETARY FUND
Publication year： 2004
E-ISBN: 9781451925418
P-ISBN(Paperback): 9781589063754
Subject： F0 Economics;F8 Finances
Keyword： Economic models
Language： ENG
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Description
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 predecessor model, and how the new features of the model can improve the IMF’s policy analysis. The paper is aimed at a general audience and avoids technical detail. It outlines the motivation, structure, strengths, and limitations of the model; examines three simulation exercises that have been completed; and discusses the future path of GEM.