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MULTIMOD: A Multi-Region Econometric Model

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  • International Monetary Fund

Abstract

The paper describes a global model consisting of several industrial and developing country blocks built to analyze alternative economic policies in a medium-term context. The model, which has been used to construct medium-term scenarios for the World Economic Outlook, consists of aggregate demand and supply relationships, with endogenous determination of interest rates, prices, and exchange rates. Financing flows to developing countries depend on expectations of their ability to service debt. Expectations of interest rates, inflation, and exchange rates are modeled in a way that is consistent with the model’s solution, and budget constraints are imposed on governments.

Suggested Citation

  • International Monetary Fund, 1988. "MULTIMOD: A Multi-Region Econometric Model," IMF Working Papers 1988/023, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1988/023
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    Citations

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    Cited by:

    1. William H. Branson & Grazia Marchese, 1988. "International payments imbalances in Japan, Germany, and the United States," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 32, pages 19-57.
    2. Brayton, Flint & Levin, Andrew & Lyon, Ralph & Williams, John C., 1997. "The evolution of macro models at the Federal Reserve Board," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 47(1), pages 43-81, December.
    3. Joseph E. Gagnon, 1989. "A forward-looking multicountry model: MX3," International Finance Discussion Papers 359, Board of Governors of the Federal Reserve System (U.S.).
    4. Polachek Solomon W., 1999. "Conflict and Trade: An Economics Approach to Political International Interactions," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 5(2), pages 1-32, April.
    5. Mitchell, Peter R. & Sault, Joanne E. & Smith, Peter N. & Wallis, Kenneth F., 1998. "Comparing global economic models," Economic Modelling, Elsevier, vol. 15(1), pages 1-48, January.
    6. John B. Taylor, 1989. "Policy Analysis With a Multicountry Model," NBER Working Papers 2881, National Bureau of Economic Research, Inc.
    7. Andrew T. Levin & John H. Rogers & Ralph W. Tryon, 1997. "A guide to FRB/Global," International Finance Discussion Papers 588, Board of Governors of the Federal Reserve System (U.S.).

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