IMF Working Papers

Repmod: A Smaller Sibling for Multimod

By Guy M Meredith

January 1, 1999

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Guy M Meredith. Repmod: A Smaller Sibling for Multimod, (USA: International Monetary Fund, 1999) accessed November 8, 2024
Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper describes a small macroeconomic model based on a representative industrial-country block of MULTIMOD, the IMF’s multi-country simulation model. REPMOD is designed to provide a more flexible and accessible tool for analysis by individual country desks than the full version of MULTIMOD. It also allows the construction of model-consistent baseline paths, in addition to conventional shock-minus-control experiments. After discussing the model’s general structure and properties, some distinctive aspects are illustrated via simulations that explore the implications of Japan’s liquidity trap.

Subject: Deflation, Financial services, Foreign exchange, Inflation, Prices, Real exchange rates, Real interest rates, Short term interest rates

Keywords: B. target Inflation shock, Database generation, Deflation, Exchange rate depreciation, Exchange rate targeting, GDP deflator, Global, Government spending, Government spending shock, Import price equation, Import price inflation, Inflation, Inflation expectation, Inflation rate, Japan's liquidity trap, Liquidity trap, Liquidity-trap scenario, Macroeconomic models, Output gap, Output-inflation tradeoff, Phillips curve, Potential GDP, Price term, Projection value, Real exchange rates, Real interest rates, REPMOD equation, Short term interest rates, Simulations, WP

Publication Details

  • Pages:

    37

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 1999/008

  • Stock No:

    WPIEA0081999

  • ISBN:

    9781451842494

  • ISSN:

    1018-5941