Macroeconomic Model Spillovers and Their Discontents is popular PDF and ePub book, written by Mr.Tamim Bayoumi in 2013-01-08, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Macroeconomic Model Spillovers and Their Discontents can be Read Online from any device for your convenience.
Macroeconomic Model Spillovers and Their Discontents Book PDF Summary
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.
Detail Book of Macroeconomic Model Spillovers and Their Discontents PDF
- Author : Mr.Tamim Bayoumi
- Release : 08 January 2013
- Publisher : International Monetary Fund
- ISBN : 9781475519860
- Genre : Business & Economics
- Total Page : 25 pages
- Language : English
- PDF File Size : 19,8 Mb
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