The Global Integrated Monetary and Fiscal Model (GIMF)

This working paper presents a comprehensive overview of the theoretical structure of the Global Integrated Monetary and Fiscal Model (GIMF), a multi-region dynamic general equilibrium model that is used by the IMF for a variety of tasks including policy analysis, risk analysis, and surveillance.Banking sector;Corporate sector;Economic models;Private consumption;Private investment;Private savings;investment goods, fiscal stimulus, fiscal policy, elasticity of substitution, budget constraint, tax revenue, aggregate consumption, fiscal rule, intermediate goods, fiscal policies, taxation, international trade, tax rates, government budget, factor shares, government budget constraint, tax bases, fiscal policy rules, nominal interest rate, external finance, tradable goods, domestic economy, fiscal surplus, fiscal model, trade flows, structural fiscal, fiscal rules, aggregate shocks, zero profits, domestic demand, competitive price, fiscal measures, equilibrium model, open economies, budget deficits, nontradable goods, balance of payments, world economy, open economy, account deficits, import price, multiple sources, aggregate demand, domestic competition, nominal growth rate, current account balance, distortionary effect, external shocks, exchange rate movements, fiscal liability, fiscal deficits, tax income, taxes on labor, imported inputs, fiscal multipliers, output elasticity, domestic firms, regional trade, imported goods, fiscal consolidation, budget constraints, nominal interest rates, public investment spending, political economy, monetary union, public finances, tax payments, fiscal instruments, world market, fiscal structure, distortionary taxes, external financing, fiscal analysis, terms-of-trade shocks, fiscal shocks, domestic market, trade shocks, government spending