Search Results - "Laxton, Douglas"

Deficit reduction: Short-term pain for long-term gain by Clinton, Kevin, Kumhof, Michael, Laxton, Douglas, Mursula, Susanna

“…The paper evaluates the costs and benefits of fiscal consolidation using simulations based on the IMFs global dynamic general equilibrium model GIMF. Over the…”
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Monetary rules for small, open, emerging economies by Laxton, Douglas, Pesenti, Paolo

“…This paper develops a variant of the IMF's Global Economic Model suitable to analyze macroeconomic dynamics in open economies, and uses it to assess the…”
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Global effects of fiscal stimulus during the crisis by Freedman, Charles, Kumhof, Michael, Laxton, Douglas, Muir, Dirk, Mursula, Susanna

“…The IMF's Global Integrated Monetary and Fiscal Model is used to compute short-run multipliers of fiscal stimulus measures and long-run crowding-out effects of…”
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Optimal price setting and inflation inertia in a rational expectations model by Juillard, Michael, Kamenik, Ondra, Kumhof, Michael, Laxton, Douglas

“…This paper presents and estimates a new Keynesian monetary model for the US economy. It proposes possible solutions to two problems in this model class, the…”
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Would protectionism defuse global imbalances and spur economic activity? A scenario analysis by Faruqee, Hamid, Laxton, Douglas, Muir, Dirk, Pesenti, Paolo

“…In the evolving debate and analysis of global imbalances, a commonly overlooked issue pertains to rising protectionism. This paper attempts to fill that gap,…”
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International deflation risks under alternative macroeconomic policies by Clinton, Kevin, Garcia-Saltos, Roberto, Johnson, Marianne, Kamenik, Ondrej, Laxton, Douglas

“…We use a version of the Global Projection Model covering the United States, Euro area and Japan to assess options for dealing with the looming risk of…”
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The U.S. Phillips curve: The case for asymmetry by Laxton, Douglas, Rose, David, Tambakis, Demosthenes

“…Recent statistical rejections of convexity in the Phillips curve have been uninformative because researchers have employed measures of business cycle gaps that…”
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Fiscal deficits and current account deficits by Kumhof, Michael, Laxton, Douglas

“…Recent fiscal stimulus packages depend for their effectiveness on the assumption of non-Ricardian savings behavior. We show that, under the same assumption,…”
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Deflationary shocks and monetary rules: An open-economy scenario analysis by Laxton, Douglas, N'Diaye, Papa, Pesenti, Paolo

“…The paper considers the macroeconomic transmission of demand and supply shocks in an open economy under alternative assumptions on whether the zero interest…”
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Simple fiscal policy rules for small open economies by Kumhof, Michael, Laxton, Douglas

“…This paper analyzes the scope for rules-based countercyclical fiscal policy in small open economies where a subset of households is liquidity-constrained…”
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Getting to Know the Global Economy Model and Its Philosophy by Laxton, Douglas

“…This paper provides a nontechnical introduction to the IMF's Global Economy Model (GEM). GEM is a modern dynamic stochastic general equilibrium (DSGE) model…”
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Some simulation properties of the major euro area economies in MULTIMOD by Hunt, Benjamin, Laxton, Douglas

“…This paper was prepared as part of a euro area macroeconomic model comparisons project. Four standard macroeconomic experiments are considered to illustrate…”
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An algorithm competition: First-order iterations versus Newton-based techniques by Juillard, Michel, Laxton, Douglas, McAdam, Peter, Pioro, Hope

“…The development and use of forward-looking macromodels in policy making institutions has proceeded at a much slower pace than what was predicted in the early…”
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Real Interest Rates And Real Exchange Rates: Evidence From Indexed Bonds by Bleaney, Michael, Laxton, Douglas

“…Uncovered interest parity has found little empirical support at short horizons.Subtracting expected inflation differentials from both sides of the uncovered…”
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The future of oil: Geology versus technology by Benes, Jaromir, Chauvet, Marcelle, Kamenik, Ondra, Kumhof, Michael, Laxton, Douglas, Mursula, Susanna, Selody, Jack

“…We discuss and reconcile the geological and economic/technological views concerning the future of world oil production and prices, and present a nonlinear…”
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Effects of Fiscal Stimulus in Structural Models by Coenen, Günter, Erceg, Christopher J., Freedman, Charles, Furceri, Davide, Kumhof, Michael, Lalonde, René, Laxton, Douglas, Lindé, Jesper, Mourougane, Annabelle, Muir, Dirk, Mursula, Susanna, De Resende, Carlos, Roberts, John, Roeger, Werner, Snudden, Stephen, Trabandt, Mathias, in't Veld, Jan

“…The paper subjects seven structural DSGE models, all used heavily by policymaking institutions, to discretionary fiscal stimulus shocks using seven different…”
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A robust method for simulating forward-looking models by Armstrong, John, Black, Richard, Laxton, Douglas, Rose, David

“…Methods of computing the type II iterations involved in extended path algorithms for the solution of economic models with forward-looking expectations are…”
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Inflation targeting with NAIRU uncertainty and endogenous policy credibility by Isard, Peter, Laxton, Douglas, Eliasson, Ann-Charlotte

“…Stochastic simulations are employed to compare performances of monetary policy rules in linear and nonlinear variants of a small macro model with NAIRU…”
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Possible effects of European Monetary Union on Switzerland by Laxton, Douglas, Prasad, Eswar

“…This paper examines the possible effects on Switzerland of asset preference shifts in favor of Swiss franc-denominated assets that could result from European…”
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To starve or not to starve the beast? by Kumhof, Michael, Laxton, Douglas, Leigh, Daniel

“…•We model a policy of cutting taxes to induce future government spending cuts.•In a 2-country DSGE setup this raises welfare, but only under strong…”
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