Macrofinancial Analysis in the World Economy A Panel Dynamic Stochastic General Equilibrium Approach

This paper develops a structural macroeconometric model of the world economy, disaggregated into forty national economies. This panel dynamic stochastic general equilibrium model features a range of nominal and real rigidities, extensive macrofinancial linkages, and diverse spillover transmission ch...

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Bibliographic Details
Main Author: Vitek, Francis
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2015
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Macrofinancial Analysis in the World Economy  |b A Panel Dynamic Stochastic General Equilibrium Approach  |c Francis Vitek 
260 |a Washington, D.C.  |b International Monetary Fund  |c 2015 
300 |a 112 pages 
651 4 |a United Kingdom 
653 |a Interest rates 
653 |a Credit 
653 |a Wealth 
653 |a Banks 
653 |a Finance 
653 |a Banks and banking 
653 |a Financial services 
653 |a Deflation 
653 |a Fiscal Policy 
653 |a Open Economy Macroeconomics 
653 |a Computable and Other Applied General Equilibrium Models 
653 |a Mortgages 
653 |a National accounts 
653 |a Model Construction and Estimation 
653 |a Market interest rates 
653 |a Consumption; Economics 
653 |a Multiple or Simultaneous Equation Models: Models with Panel Data 
653 |a Bank credit 
653 |a Macroeconomics 
653 |a Banking 
653 |a Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data) 
653 |a Econometrics 
653 |a Econometrics & economic statistics 
653 |a Bayesian Analysis: General 
653 |a Depository Institutions 
653 |a Inflation 
653 |a Econometric analysis 
653 |a Monetary economics 
653 |a Saving 
653 |a Micro Finance Institutions 
653 |a Monetary Policy, Central Banking, and the Supply of Money and Credit: General 
653 |a Financial Institutions and Services: Government Policy and Regulation 
653 |a Dynamic stochastic general equilibrium models 
653 |a Price Level 
653 |a Econometric models 
653 |a Banks and Banking 
653 |a Financial Markets and the Macroeconomy 
653 |a Consumption 
653 |a Prices 
653 |a Macroeconomics: Consumption 
653 |a Interest Rates: Determination, Term Structure, and Effects 
653 |a Monetary Policy 
653 |a Money and Monetary Policy 
653 |a Central bank policy rate 
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082 0 |a 330 
520 |a This paper develops a structural macroeconometric model of the world economy, disaggregated into forty national economies. This panel dynamic stochastic general equilibrium model features a range of nominal and real rigidities, extensive macrofinancial linkages, and diverse spillover transmission channels. A variety of monetary policy analysis, fiscal policy analysis, macroprudential policy analysis, spillover analysis, and forecasting applications of the estimated model are demonstrated. These include quantifying the monetary, fiscal and macroprudential transmission mechanisms, accounting for business cycle fluctuations, and generating relatively accurate forecasts of inflation and output growth