LEADER 05698nam 2200733 450 001 9910463881403321 005 20200520144314.0 010 $a1-4755-9287-6 010 $a1-4983-8115-4 010 $a1-4843-6250-0 035 $a(CKB)2670000000587895 035 $a(EBL)1899705 035 $a(SSID)ssj0001435812 035 $a(PQKBManifestationID)11814734 035 $a(PQKBTitleCode)TC0001435812 035 $a(PQKBWorkID)11434050 035 $a(PQKB)10883534 035 $a(MiAaPQ)EBC1899705 035 $a(Au-PeEL)EBL1899705 035 $a(CaPaEBR)ebr11001054 035 $a(CaONFJC)MIL682312 035 $a(OCoLC)898771122 035 $a(EXLCZ)992670000000587895 100 $a20150114h20142014 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aPolicy and spillover analysis in the world economy $ea panel dynamic stochastic general equilibrium approach /$fFrancis Vitek 210 1$aWashington, District of Columbia :$cInternational Monetary Fund,$d2014. 210 4$dİ2014 215 $a1 online resource (96 p.) 225 1 $aIMF Working Paper ;$vWP14/200 300 $aDescription based upon print version of record. 311 $a1-61635-578-6 311 $a1-322-51030-X 320 $aIncludes bibliographical references. 327 $aCover; Contents; I. Introduction; II. The Theoretical Framework; A. The Household Sector; Consumption and Saving; Labor Supply; B. The Production Sector; Output Demand; Labor Demand and Investment; Output Supply; C. The Trade Sector; The Export Sector; The Import Sector; D. Monetary and Fiscal Policy; The Monetary Authority; The Fiscal Authority; E. Market Clearing Conditions; III. The Empirical Framework; A. Endogenous Variables; B. Exogenous Variables; IV. Estimation; A. Estimation Procedure; Cyclical Components; Parameters; B. Estimation Results; Cyclical Components; Parameters 327 $aV. Monetary and Fiscal Policy AnalysisA. Impulse Response Functions; B. Forecast Error Variance Decompositions; C. Historical Decompositions; VI. Spillover Analysis; A. Simulated Conditional Betas; B. Impulse Response Functions; VII. Forecasting; VIII. Conclusion; Appendix A. Description of the Data Set; Appendix B. Tables and Figures; Table 1. Structural Parameter Estimation Results; Figure 1. Impulse Responses to a Domestic Productivity Shock; Figure 2. Impulse Responses to a Domestic Labor Supply Shock; Figure 3. Impulse Responses to a Domestic Consumption Demand Shock 327 $aFigure 4. Impulse Responses to a Domestic Investment Demand ShockFigure 5. Impulse Responses to a Domestic Monetary Policy Shock; Figure 6. Impulse Responses to a Domestic Credit Risk Premium Shock; Figure 7. Impulse Responses to a Domestic Duration Risk Premium Shock; Figure 8. Impulse Responses to a Domestic Equity Risk Premium Shock; Figure 9. Impulse Responses to a Domestic Fiscal Expenditure Shock; Figure 10. Impulse Responses to a Domestic Fiscal Revenue Shock; Figure 11. Impulse Responses to a World Energy Commodity Price Markup Shock 327 $aFigure 12. Impulse Responses to a World Nonenergy Commodity Price Markup ShockFigure 13. Forecast Error Variance Decompositions of Consumption Price Inflation; Figure 14. Forecast Error Variance Decompositions of Output; Figure 15. Forecast Error Variance Decompositions of Private Consumption; Figure 16. Forecast Error Variance Decompositions of Private Investment; Figure 17. Forecast Error Variance Decompositions of the Nominal Policy Interest Rate; Figure 18. Forecast Error Variance Decompositions of the Real Effective Exchange Rate 327 $aFigure 19. Forecast Error Variance Decompositions of the Unemployment RateFigure 20. Forecast Error Variance Decompositions of the Fiscal Balance Ratio; Figure 21. Forecast Error Variance Decompositions of the Current Account Balance Ratio; Figure 22. Historical Decompositions of Consumption Price Inflation; Figure 23. Historical Decompositions of Output Growth; Figure 24. Historical Decompositions of the Unemployment Rate; Figure 25. Simulated Conditional Betas of Output; Figure 26. Peak Impulse Responses to Foreign Productivity Shocks 327 $aFigure 27. Peak Impulse Responses to Foreign Labor Supply Shocks 330 $aThis paper develops a structural macroeconometric model of the world economy, disaggregated into forty national economies. This panel dynamic stochastic general equilibrium model features a range of nominal and real rigidities, extensive macrofinancial linkages, and diverse spillover transmission channels. A variety of monetary policy analysis, fiscal policy analysis, spillover analysis, and forecasting applications of the estimated model are demonstrated. These include quantifying the monetary and fiscal transmission mechanisms, accounting for business cycle fluctuations, and generating relat 410 0$aIMF working paper ;$vWP14/200. 606 $aCapital movements$xEconometric models 606 $aMonetary policy$xEconometric models 606 $aFiscal policy$xEconometric models 606 $aBusiness cycles$xEconometric models 608 $aElectronic books. 615 0$aCapital movements$xEconometric models. 615 0$aMonetary policy$xEconometric models. 615 0$aFiscal policy$xEconometric models. 615 0$aBusiness cycles$xEconometric models. 676 $a332.820971 700 $aVitek$b Francis$0900471 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910463881403321 996 $aPolicy and spillover analysis in the world economy$92070537 997 $aUNINA