Macroeconomic model spillovers and their discontents:
Saved in:
| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
[Washington, D.C.]
International Monetary Fund
©2013
|
| Series: | IMF working paper
WP/13/4 |
| Subjects: | |
| Online Access: | Volltext |
| Item Description: | Title from PDF title page (IMF Web site, viewed Jan. 16, 2013). - "Strategy, Policy, and Review Department.". - "January 2013." The Great Recession underlined that policies in some countries can have profound spillovers elsewhere. Sadly, the solution of simulating large macroeconomic models to measure these spillovers has been found wanting. Typical models generate lower international correlations of output and financial asset prices than are seen in even pre-crisis data. Imposing higher financial market correlations creates more reasonable cross-country spillovers, and is likely to become the norm in policy modeling despite weak theoretical underpinnings, as is already true of sticky wages. We propose using event studies to calibrate market reactions to particular policy announcements, and report results for U.S. monetary and fiscal policy announcements in 2009 and 2010 that are plausible and event-specific Includes bibliographical references |
| Physical Description: | 1 Online-Ressource (25 pages) |
| ISBN: | 9781475576887 1475576889 |
Staff View
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| id | DE-604.BV042965676 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-10T07:13:57Z |
| institution | BVB |
| isbn | 9781475576887 1475576889 |
| language | English |
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| oclc_num | 824513364 |
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| psigel | ZDB-4-EBU FLA_PDA_EBU |
| publishDate | 2013 |
| publishDateSearch | 2013 |
| publishDateSort | 2013 |
| publisher | International Monetary Fund |
| record_format | marc |
| series2 | IMF working paper |
| spelling | Bayoumi, Tamim A. Verfasser aut Macroeconomic model spillovers and their discontents prepared by Tamim Bayoumi and Francis Vitek [Washington, D.C.] International Monetary Fund ©2013 1 Online-Ressource (25 pages) txt rdacontent c rdamedia cr rdacarrier IMF working paper WP/13/4 Title from PDF title page (IMF Web site, viewed Jan. 16, 2013). - "Strategy, Policy, and Review Department.". - "January 2013." The Great Recession underlined that policies in some countries can have profound spillovers elsewhere. Sadly, the solution of simulating large macroeconomic models to measure these spillovers has been found wanting. Typical models generate lower international correlations of output and financial asset prices than are seen in even pre-crisis data. Imposing higher financial market correlations creates more reasonable cross-country spillovers, and is likely to become the norm in policy modeling despite weak theoretical underpinnings, as is already true of sticky wages. We propose using event studies to calibrate market reactions to particular policy announcements, and report results for U.S. monetary and fiscal policy announcements in 2009 and 2010 that are plausible and event-specific Includes bibliographical references BUSINESS & ECONOMICS / Economics / Macroeconomics bisacsh POLITICAL SCIENCE / Economic Conditions bisacsh Econometric models fast International finance fast Macroeconomics fast Wirtschaft Ökonometrisches Modell Macroeconomics Econometric models International finance Vitek, Francis Sonstige oth International Monetary Fund Strategy, Policy, and Review Department Sonstige oth http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=547913 Aggregator Volltext |
| spellingShingle | Bayoumi, Tamim A. Macroeconomic model spillovers and their discontents BUSINESS & ECONOMICS / Economics / Macroeconomics bisacsh POLITICAL SCIENCE / Economic Conditions bisacsh Econometric models fast International finance fast Macroeconomics fast Wirtschaft Ökonometrisches Modell Macroeconomics Econometric models International finance |
| title | Macroeconomic model spillovers and their discontents |
| title_auth | Macroeconomic model spillovers and their discontents |
| title_exact_search | Macroeconomic model spillovers and their discontents |
| title_full | Macroeconomic model spillovers and their discontents prepared by Tamim Bayoumi and Francis Vitek |
| title_fullStr | Macroeconomic model spillovers and their discontents prepared by Tamim Bayoumi and Francis Vitek |
| title_full_unstemmed | Macroeconomic model spillovers and their discontents prepared by Tamim Bayoumi and Francis Vitek |
| title_short | Macroeconomic model spillovers and their discontents |
| title_sort | macroeconomic model spillovers and their discontents |
| topic | BUSINESS & ECONOMICS / Economics / Macroeconomics bisacsh POLITICAL SCIENCE / Economic Conditions bisacsh Econometric models fast International finance fast Macroeconomics fast Wirtschaft Ökonometrisches Modell Macroeconomics Econometric models International finance |
| topic_facet | BUSINESS & ECONOMICS / Economics / Macroeconomics POLITICAL SCIENCE / Economic Conditions Econometric models International finance Macroeconomics Wirtschaft Ökonometrisches Modell |
| url | http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=547913 |
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