Douglas Laxton

International Monetary Fund (IMF) - Research Department

700 19th Street NW

Washington, DC 20431

United States

  • International Monetary Fund (IMF) - Research Department

SCHOLARLY PAPERS

82

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150

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399

Scholarly Papers (82)

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1.

A Practical Model-Based Approach to Monetary Policy Analysis - Overview

IMF Working Paper No. 06/80
Number of pages: 45 Posted: 17 May 2006
Andrew Berg, Philippe D. Karam and Douglas Laxton
International Monetary Fund (IMF) - Developing Country Studies Division, International Monetary Fund (IMF) and International Monetary Fund (IMF) - Research Department
Downloads 861 (54,881)

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Monetary policy, forecasting and simulation, model construction, estimation

2.

Practical Model-Based Monetary Policy Analysis: A How-To Guide

IMF Working Paper No. 06/81
Number of pages: 69 Posted: 17 May 2006
Andrew Berg, Philippe D. Karam and Douglas Laxton
International Monetary Fund (IMF) - Developing Country Studies Division, International Monetary Fund (IMF) and International Monetary Fund (IMF) - Research Department
Downloads 690 (73,578)
Citation 1

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Monetary Policy, Forecasting and Simulation, Model construction and estimation, computation techniques

3.

The Macroeconomic Effects of Higher Oil Prices

IMF Working Paper No. 01/14
Number of pages: 47 Posted: 31 Jan 2006
Ben Hunt, Peter Isard and Douglas Laxton
International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF) - Research Department
Downloads 603 (87,117)

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oil price shocks, MULTIMOD, monetary policy

4.

Welfare-Based Monetary Policy Rules in an Estimated DSGE Model of the Us Economy

ECB Working Paper No. 613
Number of pages: 68 Posted: 22 May 2006
Michel Juillard, Philippe D. Karam, Douglas Laxton and Paolo A. Pesenti
Banque de France - Economic Study and Research Division, International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department and Federal Reserve Bank of New York
Downloads 452 (124,094)
Citation 20

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Competition, markups, monetary policy, Taylor rule

5.

A New-Open-Economy-Macro Model for Fiscal Policy Evaluation

IMF Working Paper No. 06/45
Number of pages: 46 Posted: 23 Mar 2006
Dennis P. J. Botman, Douglas Laxton, Dirk Muir and Andrei Romanov
International Monetary Fund (IMF) - Fiscal Affairs Department, International Monetary Fund (IMF) - Research Department, Bank of Canada and University of Wisconsin - Madison - Robert M. La Follette School of Public Affairs
Downloads 441 (127,732)

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Finite lives, distortionary taxes, rule-of-thumb consumers, government debt

6.

DSGE Modeling at the Fund: Applications and Further Developments

IMF Working Paper No. 07/200
Number of pages: 42 Posted: 28 Nov 2007
Dennis P. J. Botman, Philippe D. Karam, Douglas Laxton and David Rose
International Monetary Fund (IMF) - Fiscal Affairs Department, International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department and QED Solutions
Downloads 423 (134,420)

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Working Paper, Fiscal policy, Economic models, Monetary policy

7.

Effects of Fiscal Stimulus in Structural Models

IMF Working Paper No. 10/73
Number of pages: 122 Posted: 29 Mar 2010
Günter Coenen, Christopher J. Erceg, Charles Freedman, Davide Furceri, Michael Kumhof, Rene Lalonde, Douglas Laxton, Jesper Lindé, Annabelle Mourougane, Dirk Muir, Susanna Mursula, Carlos A. de Resende, John Roberts, Werner Roeger, Werner Roeger, Stephen Snudden, Mathias Trabandt and Jan in 't Veld
affiliation not provided to SSRN, Board of Governors of the Federal Reserve System, Government of Canada - Bank of Canada, University of Palermo, CEPR, International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) - Research Department, Sveriges Riksbank - Research Division, Organization for Economic Co-Operation and Development (OECD) - Economics Department (ECO), Bank of Canada, International Monetary Fund (IMF), Bank of Canada - International Economic Analysis Department, International Monetary Fund (IMF), European Commission, DGECFINEuropean Commission, Wilfrid Laurier University, Goethe University Frankfurt and European Union - Directorate General for Economic and Financial Affairs (DG ECFIN)
Downloads 395 (145,092)
Citation 10

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Budget deficits, Cross country analysis, Economic forecasting, Economic models, Europe, Fiscal policy, Government expenditures, Monetary policy, Public debt, Stabilization measures, Taxes, United States

8.

Financial Crises in DSGE Models: A Prototype Model

IMF Working Paper No. 14/57
Number of pages: 60 Posted: 30 Apr 2014
Jaromir Benes, Michael Kumhof and Douglas Laxton
Czech National Bank, CEPR and International Monetary Fund (IMF) - Research Department
Downloads 372 (155,176)
Citation 1

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Financial crisis, Credit expansion, Bank credit, Credit risk, Banks, Loans, Macroprudential Policy, Monetary policy, Economic models, lending boom, credit crunch, financialy cycle, asset price bubble, bank capital, bank balance sheets, bank deposits, banking, capital adequacy, capital regulation, probability of default, retained earnings, bank equity, banking sector, bank borrowers, prudential regulation, present value, recapitalization, bank credit creation, bank assets, bank liabilities, return on equity, bank capital regulation, banks loans, monetary authority, banking crises, banking activities, banking supervision, capital adequacy ratio, banking system, bank earnings, financial risk, b

9.

Monetary Policy Credibility and the Unemployment-Inflation Trade-Off: Some Evidence from 17 Industrial Countries

IMF Working Paper No. 02/220
Number of pages: 40 Posted: 12 Feb 2006
Douglas Laxton and Papa N'Diaye
International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF) - Asia and Pacific Department
Downloads 303 (193,431)
Citation 1

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Phillips Curve, Unemployment, Monetary Policy, Lucas Critique

10.

Is the Phillips Curve Really a Curve? Some Evidence for Canada, the United Kingdom, and the United States

IMF Working Paper No. 96/111
Number of pages: 38 Posted: 15 Feb 2006
Guy Debelle and Douglas Laxton
Reserve Bank of Australia and International Monetary Fund (IMF) - Research Department
Downloads 293 (200,327)
Citation 7

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11.

A Small Quarterly Projection Model of the US Economy

IMF Working Paper No. 08/278
Number of pages: 56 Posted: 18 Dec 2008
Ioan Carabenciov, Igor Ermolaev, Charles Freedman, Michel Juillard, Ondra Kamenik, Dmitry Korshunov and Douglas Laxton
International Monetary Fund (IMF), Bank of Russia, Government of Canada - Bank of Canada, Banque de France - Economic Study and Research Division, International Monetary Fund (IMF), Bank of Russia and International Monetary Fund (IMF) - Research Department
Downloads 290 (202,505)

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12.

Benefits and Spillovers of Greater Competition in Europe: A Macroeconomic Assessment

Downloads 270 (217,905)
Citation 49

Benefits and Spillovers of Greater Competition in Europe: A Macroeconomic Assessment

Number of pages: 50 Posted: 30 May 2004
Tamim Bayoumi, Douglas Laxton and Paolo A. Pesenti
International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department and Federal Reserve Bank of New York
Downloads 128 (424,312)
Citation 7

Abstract:

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Competition, markups, monetary policy, Taylor Rule

Benefits and Spillovers of Greater Competition in Europe: A Macroeconomic Assessment

Number of pages: 64 Posted: 25 Aug 2004
Tamim Bayoumi, Douglas Laxton and Paolo A. Pesenti
International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department and Federal Reserve Bank of New York
Downloads 127 (426,825)
Citation 1

Abstract:

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Competition, Markups, Monetary Policy, Taylor Rule

Benefits and Spillovers of Greater Competition in Europe: A Macroeconomic Assessment

Number of pages: 52 Posted: 12 Aug 2004
Tamim Bayoumi, Douglas Laxton and Paolo A. Pesenti
International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department and Federal Reserve Bank of New York
Downloads 15 (1,072,887)
Citation 2
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Competition, mark-ups, monetary policy, Taylor rule

13.

Estimating Potential Output with a Multivariate Filter

IMF Working Paper No. 10/285
Number of pages: 38 Posted: 01 Feb 2011
Jaromír Beneš, Kevin Clinton, Roberto Garcia-Saltos, Marianne Johnson, Douglas Laxton, Peter B. Manchev and Troy Matheson
International Monetary Fund (IMF), Government of Canada - Bank of Canada, International Monetary Fund (IMF), Independent, International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) and Government of New Zealand - Department of Economics
Downloads 268 (219,463)
Citation 1

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Cross country analysis, Economic growth, Economic models, Financial crisis, Fiscal policy, Global Financial Crisis 2008-2009, Industrial production, Inflation, Monetary policy, Unemployment

14.

Why Inflation Targeting?

IMF Working Paper No. 09/86
Number of pages: 27 Posted: 28 Apr 2009
Charles Freedman and Douglas Laxton
Government of Canada - Bank of Canada and International Monetary Fund (IMF) - Research Department
Downloads 268 (219,463)

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Inflation targeting, Monetary policy, Inflation, Economic models

15.

The Global Integrated Monetary and Fiscal Model (GIMF) – Theoretical Structure

IMF Working Paper No. 10/34
Number of pages: 74 Posted: 22 Feb 2010
Michael Kumhof, Dirk Muir, Susanna Mursula and Douglas Laxton
CEPR, Bank of Canada, International Monetary Fund (IMF) and International Monetary Fund (IMF) - Research Department
Downloads 246 (238,876)
Citation 7

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16.

Oil Prices and the Global Economy

IMF Working Paper No. 17/15
Number of pages: 31 Posted: 23 Mar 2017
Rabah Arezki, Douglas Laxton, Akito Matsumoto, Armen Nurbekyan, Hou Wang and Jiaxiong Yao
World Bank - African Development Bank, International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF), CBA, International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 245 (239,891)

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Oil prices, Oil sector, Supply and demand, Oil production, Econometric models, Oil market; macroeconomic model; depletion; consumption efficiency; technology; cycle.

17.

Fiscal Stimulus to the Rescue? Short-Run Benefits and Potential Long-Run Costs of Fiscal Deficits

IMF Working Paper No. 09/255
Number of pages: 41 Posted: 24 Nov 2009
Michael Kumhof, Dirk Muir, Charles Freedman, Susanna Mursula and Douglas Laxton
CEPR, Bank of Canada, Government of Canada - Bank of Canada, International Monetary Fund (IMF) and International Monetary Fund (IMF) - Research Department
Downloads 236 (248,792)
Citation 1

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Budget deficits, Economic models, External shocks, Financial crisis, Financial sector, Fiscal policy, Global Financial Crisis 2008-2009, Government expenditures, International financial system, Monetary policy, Productivity, Public debt

18.

Inflation Targeting Under Imperfect Policy Credibility

IMF Working Paper No. 09/94
Number of pages: 32 Posted: 03 May 2009
Ali Alichi, Huigang Chen, Kevin Clinton, Charles Freedman, Marianne Johnson, Ondra Kamenik, Turgut Kisinbay and Douglas Laxton
International Monetary Fund (IMF), International Monetary Fund (IMF), Government of Canada - Bank of Canada, Government of Canada - Bank of Canada, Independent, International Monetary Fund (IMF), International Monetary Fund (IMF) and International Monetary Fund (IMF) - Research Department
Downloads 209 (278,985)
Citation 1

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Inflation targeting, Emerging markets, Monetary policy, Disinflation, Demand, Price increases, Economic models

19.

Fiscal Deficits and Current Account Deficits

IMF Working Paper No. 09/237
Number of pages: 36 Posted: 02 Nov 2009
Michael Kumhof and Douglas Laxton
CEPR and International Monetary Fund (IMF) - Research Department
Downloads 203 (286,641)

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Budget deficits, Business cycles, Current account deficits, Economic models, Fiscal policy, Fiscal sustainability, Gross domestic product, Monetary policy, Private sector, Public debt, Savings

20.

A Party Without a Hangover? On the Effects of U.S. Government Deficits

IMF Working Paper No. 07/202
Number of pages: 40 Posted: 28 Nov 2007
Michael Kumhof and Douglas Laxton
CEPR and International Monetary Fund (IMF) - Research Department
Downloads 176 (325,878)

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Budget deficits, United States, Working Paper, Taxes, Public debt, Economic models

21.

A Small Quarterly Multi-Country Projection Model with Financial-Real Linkages and Oil Prices

IMF Working Paper No. 08/280
Number of pages: 76 Posted: 18 Dec 2008
Ioan Carabenciov, Igor Ermolaev, Charles Freedman, Michel Juillard, Ondra Kamenik, Dmitry Korshunov, Douglas Laxton and Jared Laxton
International Monetary Fund (IMF), Bank of Russia, Government of Canada - Bank of Canada, Banque de France - Economic Study and Research Division, International Monetary Fund (IMF), Bank of Russia, International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF)
Downloads 174 (329,268)

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Working Paper

22.

Phillips Curves, Phillips Lines and the Unemployment Costs of Overheating

IMF Working Paper No. 97/17
Number of pages: 50 Posted: 15 Feb 2006
Peter B. Clark and Douglas Laxton
International Monetary Fund (IMF) and International Monetary Fund (IMF) - Research Department
Downloads 173 (330,925)

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Phillips curve, Unemployment, Monetary Policy

23.

The Future of Oil: Geology Versus Technology

IMF Working Paper No. 12/109
Number of pages: 34 Posted: 11 May 2013
Jaromír Beneš, Marcelle Chauvet, Ondra Kamenik, Michael Kumhof, Douglas Laxton, Susanna Mursula and Jack Selody
International Monetary Fund (IMF), University of California Riverside, International Monetary Fund (IMF), CEPR, International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) and affiliation not provided to SSRN
Downloads 172 (332,603)
Citation 3

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Oil prices, Economic models, External shocks, Oil production, oil supply, oil demand, world oil production, higher oil prices, oil market, output growth, oil shock, world economy, aggregate demand, crude oil, conventional oil, oil and gas, fossil fuels, oil sector, oil reserves, world oil demand, oil industry, world growth, oil shale, oil production forecasts, world output, ecological economics, global supply, price fluctuations, oil recovery, dynamic effects, crude oil market, income elasticities, increased oil prices, oil producers, global oil production, oil price fluctuations, million barrels, energy information administration, oil markets, nonrenewable resources, oil price changes, opec

24.

Developing a Structured Forecasting and Policy Analysis System to Support Inflation-Forecast Targeting (IFT)

IMF Working Paper No. 09/65
Number of pages: 67 Posted: 29 Mar 2009
Douglas Laxton, David Rose and Alasdair M. Scott
International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 172 (332,603)

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Inflation, Forecasting models, Data analysis, Databases, Monetary policy, Central banks, Human capital

25.

Simple, Implementable Fiscal Policy Rules

IMF Working Paper No. 09/76
Number of pages: 43 Posted: 28 Apr 2009
Michael Kumhof and Douglas Laxton
CEPR and International Monetary Fund (IMF) - Research Department
Downloads 171 (334,368)

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Fiscal policy, Business cycles, Revenues, Monetary policy, External shocks, Commodity prices, Copper, Manufacturing, Economic stabilization, Economic models

26.

Asymmetric Effects of Economic Activity on Inflation: Evidence and Policy Implications

IMF Working Paper No. 94/139
Number of pages: 48 Posted: 15 Feb 2006
Douglas Laxton and Guy Meredith
International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF) - Research Department
Downloads 170 (336,109)
Citation 4

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27.

Financial Crises in DSGE Models: Selected Applications of MAPMOD

IMF Working Paper No. 14/56
Number of pages: 56 Posted: 30 Apr 2014
Jaromir Benes, Michael Kumhof and Douglas Laxton
Czech National Bank, CEPR and International Monetary Fund (IMF) - Research Department
Downloads 169 (337,816)

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Financial crisis, Credit expansion, Banks, Loans, Credit risk, Macroprudential Policy, Economic models, lending boom, credit crunch, financial cycle, asset price bubble, capital adequacy, capital adequacy ratio, capital adequacy ratios, capital inflow, capital stock, bank balance sheets, banking, real appreciation, capital markets, international capital markets, bank capital, banking system, bank credit, foreign capital, bank deposits, bank equity, bank borrowers, bank agents, inflation rate, exogenous shocks, capital adjustment, banking markets, banks balance sheets, credit rationing, stock market, domestic borrowers, foreign asset, capital accumulation, hedging

28.

Monetary Transmission in an Emerging Targeter: The Case of Brazil

IMF Working Paper No. 08/191
Number of pages: 44 Posted: 12 Sep 2008
A. R. Pagan, Luis Catão and Douglas Laxton
Queensland University, International Monetary Fund (IMF) and International Monetary Fund (IMF) - Research Department
Downloads 169 (337,816)

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Brazil, Monetary policy, Inflation targeting, Emerging markets, Bank credit, Interest rates, Developed countries, Economic models, Disinflation

29.

Possible Effects of European Monetary Union on Switzerland: A Case Study of Policy Dilemmas Caused by Low Inflation and the Nominal Interest Rate Floor

IMF Working Paper No. 97/23
Number of pages: 33 Posted: 15 Feb 2006
Douglas Laxton and Eswar S. Prasad
International Monetary Fund (IMF) - Research Department and Cornell University - Dyson School of Applied Economics and Management
Downloads 162 (350,289)

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EMU, monetary policy, nonlinearities, policy simulations

30.

Government Debt, Life-Cycle Income and Liquidity Constraints: Beyond Approximate Ricardian Equivalence

IMF Working Paper No. 96/140
Number of pages: 30 Posted: 15 Feb 2006
Hamid Faruqee, Douglas Laxton and Steven Symansky
International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF) - Fiscal Affairs Department
Downloads 160 (353,963)
Citation 1

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Ricardian Equivalence, Crowding Out, Real Interest Rates, Government Debt

31.

Would Protectionism Defuse Global Imbalances and Spur Economic Activity? A Scenario Analysis

Downloads 159 (355,765)
Citation 9

Would Protectionism Defuse Global Imbalances and Spur Economic Activity? A Scenario Analysis

FRB of New York Staff Report No. 268
Number of pages: 59 Posted: 06 Dec 2006
Hamid Faruqee, Douglas Laxton, Dirk Muir and Paolo A. Pesenti
International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) - Research Department, Bank of Canada and Federal Reserve Bank of New York
Downloads 101 (507,686)

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current account deficit, multicountry dynamic general equilibrium models, trade policy

Would Protectionism Defuse Global Imbalances and Spur Economic Activity? A Scenario Analysis

NBER Working Paper No. w12704
Number of pages: 59 Posted: 20 Nov 2006 Last Revised: 20 Mar 2022
Hamid Faruqee, Douglas Laxton, Dirk Muir and Paolo A. Pesenti
International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) - Research Department, Bank of Canada and Federal Reserve Bank of New York
Downloads 45 (788,319)

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Would Protectionism Defuse Global Imbalances and Spur Economic Activity? A Scenario Analysis

CEPR Discussion Paper No. 5993
Number of pages: 61 Posted: 20 Mar 2007
Hamid Faruqee, Douglas Laxton, Dirk Muir and Paolo A. Pesenti
International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) - Research Department, Bank of Canada and Federal Reserve Bank of New York
Downloads 13 (1,096,064)
Citation 3
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Current account deficit, multi-country DGE models, net asset positions, trade policy

32.

Endogenous Monetary Policy Credibility in a Small Macro Model of Israel

IMF Working Paper No. 07/207
Number of pages: 35 Posted: 14 Sep 2007
Eyal Argov, Natan P. Epstein, Philippe D. Karam, Douglas Laxton and David Rose
Bank of Israel - Research Department, International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department and QED Solutions
Downloads 145 (383,647)

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Monetary policy, Israel, Inflation targeting, Economic models, Working Paper

33.

A Small Quarterly Multi-Country Projection Model

IMF Working Paper No. 08/279
Number of pages: 61 Posted: 18 Dec 2008
Ioan Carabenciov, Igor Ermolaev, Charles Freedman, Michel Juillard, Ondra Kamenik, Dmitry Korshunov, Douglas Laxton and Jared Laxton
International Monetary Fund (IMF), Bank of Russia, Government of Canada - Bank of Canada, Banque de France - Economic Study and Research Division, International Monetary Fund (IMF), Bank of Russia, International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF)
Downloads 133 (410,666)

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Working Paper

34.

Liberating Supply: Fiscal Policy and Technological Innovation in a Multicountry Model

IMF Working Paper No. 98/95
Number of pages: 26 Posted: 15 Feb 2006
Tamim Bayoumi, David T. Coe and Douglas Laxton
International Monetary Fund (IMF), International Monetary Fund (IMF) and International Monetary Fund (IMF) - Research Department
Downloads 133 (410,666)

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Technological Progress, R&D, Econometric Models

35.

International Spillovers of Macroeconomic Shocks A Quantitative Exploration

IMF Working Paper No. 00/101
Number of pages: 16 Posted: 15 Feb 2006
Douglas Laxton and Eswar S. Prasad
International Monetary Fund (IMF) - Research Department and Cornell University - Dyson School of Applied Economics and Management
Downloads 132 (413,039)

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Macroeconomic shocks international spillovers nominal interest rate floor macroeconometric simulations

36.

Inflation Targeting Pillars: Transparency and Accountability

IMF Working Paper No. 09/262
Number of pages: 20 Posted: 08 Dec 2009
Charles Freedman and Douglas Laxton
Government of Canada - Bank of Canada and International Monetary Fund (IMF) - Research Department
Downloads 124 (433,227)

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Central bank policy, Central banks, Inflation, Inflation targeting, Monetary policy, Transparency

37.

A Robust and Efficient Method for Solving Nonlinear Rational Expectations Models

IMF Working Paper No. 96/106
Number of pages: 30 Posted: 15 Feb 2006
Douglas Laxton
International Monetary Fund (IMF) - Research Department
Downloads 123 (435,938)

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38.

Chile's Structural Fiscal Surplus Rule: A Model-Based Evaluation

IMF Working Paper No. 09/88
Number of pages: 56 Posted: 28 Apr 2009
Michael Kumhof and Douglas Laxton
CEPR and International Monetary Fund (IMF) - Research Department
Downloads 119 (446,960)

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Fiscal policy, Chile, Current account surpluses, Business cycles, Copper, Economic models

39.

Asymmetry in the U.S. Output-Inflation Nexus: Issues and Evidence

IMF Working Paper No. 95/76
Number of pages: 52 Posted: 15 Feb 2006
Douglas Laxton
International Monetary Fund (IMF) - Research Department
Downloads 119 (446,960)

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40.

A Model for Full-Fledged Inflation Targeting and Application to Ghana

IMF Working Paper No. 10/25
Number of pages: 31 Posted: 15 Feb 2010
Ali Alichi, Kevin Clinton, Jihad C. Dagher, Ondra Kamenik, Douglas Laxton and Marshall Mills
International Monetary Fund (IMF), Government of Canada - Bank of Canada, Milken Institute, International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF)
Downloads 116 (455,627)

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Central banks, Disinflation, Economic models, External shocks, Ghana, Inflation rates, Inflation targeting, Low-income developing countries, Monetary policy, Public information, Transparency

41.

Deflationary Shocks and Monetary Rules: An Open-Economy Scenario Analysis

Downloads 115 (458,679)
Citation 3

Deflationary Shocks and Monetary Rules: An Open-Economy Scenario Analysis

FRB of New York Staff Report No. 267
Number of pages: 37 Posted: 06 Dec 2006
Douglas Laxton, Papa N'Diaye and Paolo A. Pesenti
International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) - Asia and Pacific Department and Federal Reserve Bank of New York
Downloads 68 (648,005)

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deflation, monetary policy rules, zero interest rate floor

Deflationary Shocks and Monetary Rules: An Open-Economy Scenario Analysis

NBER Working Paper No. w12703
Number of pages: 37 Posted: 20 Nov 2006 Last Revised: 18 Sep 2022
Douglas Laxton, Papa N'Diaye and Paolo A. Pesenti
International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) - Asia and Pacific Department and Federal Reserve Bank of New York
Downloads 36 (858,736)

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Deflationary Shocks and Monetary Rules: An Open-Economy Scenario Analysis

CEPR Discussion Paper No. 5997
Number of pages: 39 Posted: 23 Mar 2007
Douglas Laxton, Papa N'Diaye and Paolo A. Pesenti
International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) - Asia and Pacific Department and Federal Reserve Bank of New York
Downloads 11 (1,119,408)
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Deflation, monetary policy rules, zero interest rate floor

42.

The Benefits of International Policy Coordination Revisited

IMF Working Paper No. 13/262
Number of pages: 54 Posted: 09 Jan 2014
Jaromír Beneš, Michael Kumhof, Douglas Laxton, Dirk Muir and Susanna Mursula
International Monetary Fund (IMF), CEPR, International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 110 (473,972)

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Fiscal policy, Macroprudential Policy, Monetary policy, Stabilization measures, International cooperation, Economic models, International Policy Coordination, International Spillovers, Nonlinearities, Fiscal Multipliers, Macrofinancial Linkages, Prudential Regulation, inflation, real interest rates, nominal interest rates, monetary economics, terms of trade, foreign currency, real value, aggregate demand, terms of trade shock, foreign exchange, real output, financial stability, increase in inflation, price level, nominal rate of return, relative price, inflationary pressures, inflation objective, rate of inflation, inflation targeting

43.

Morocco: A Practical Approach to Monetary Policy Analysis in a Country with Capital Controls

IMF Working Paper No. 18/27
Number of pages: 30 Posted: 12 Mar 2018
Mokhtar Benlamine, Aleš Bulíř, Meryem Farouki, Agnes Horvath, Faical Hossaini, Hasnae El Idrissi, Zineb Iraoui, Mihaly Kovacs, Douglas Laxton, Anass Maaroufi, Katalin Szilagyi, Mohamed Taamouti and David Vávra
International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF), Independent, International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF), International Monetary Fund (IMF), High Commission for the Plan of Morocco - Department of Statistics and International Monetary Fund (IMF)
Downloads 109 (477,092)

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Middle East, Monetary policy, Morocco, forecasting and simulation, model construction, Monetary Policy (Targets, Instruments, and Effects), Model Construction and Estimation

44.

Simple Monetary Policy Rules Under Model Uncertainty

IMF Working Paper No. 99/75
Number of pages: 60 Posted: 14 Feb 2006
Peter Isard, Douglas Laxton and Ann-Charlotte Eliasson
International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) - Research Department and Deutsche Bank Research
Downloads 108 (480,264)
Citation 1

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monetary policy rules, NAIRU uncertainty, macroeconomic models

45.

The Zero Interest Rate Floor (Zif) and its Implications for Monetary Policy in Japan

IMF Working Paper No. 01/186
Number of pages: 37 Posted: 03 Feb 2006
Ben Hunt and Douglas Laxton
International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF) - Research Department
Downloads 107 (483,457)

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Monetary policy rules, liquidity trap, potential output, uncertainty

46.

Avoiding Dark Corners: A Robust Monetary Policy Framework for the United States

IMF Working Paper No. 15/134
Number of pages: 48 Posted: 21 Jul 2015
Ali Alichi, Kevin Clinton, Charles Freedman, Ondra Kamenik, Michel Juillard, Douglas Laxton, Jarkko Turunen and Hou Wang
International Monetary Fund (IMF), Government of Canada - Bank of Canada, Government of Canada - Bank of Canada, International Monetary Fund (IMF), Banque de France - Economic Study and Research Division, International Monetary Fund (IMF) - Research Department, International Monetary Fund and International Monetary Fund (IMF)
Downloads 102 (500,272)
Citation 1

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Monetary policy, United States, Interest rates, Monetary policy instruments, Inflation targeting, Econometric models, Optimal Control, central bank, economy, expectations, projections, phillips curve, forecasts, equilibrium, demand

47.

Budget Consolidation: Short-Term Pain and Long-Term Gain

IMF Working Paper No. 10/163
Number of pages: 34 Posted: 19 Jul 2010
Michael Kumhof, Kevin Clinton, Susanna Mursula and Douglas Laxton
CEPR, Government of Canada - Bank of Canada, International Monetary Fund (IMF) and International Monetary Fund (IMF) - Research Department
Downloads 101 (503,725)
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48.

Life-Cycles, Dynasties, Saving: Implications for Closed and Small, Open Economies

IMF Working Paper No. 00/126
Number of pages: 41 Posted: 02 Feb 2006
Hamid Faruqee and Douglas Laxton
International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF) - Research Department
Downloads 98 (513,917)

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Ricardian Equivalence, Government Debt, Saving

49.

A Simple Multivariate Filter for Estimating Potential Output

IMF Working Paper No. 15/79
Number of pages: 31 Posted: 05 May 2015
Patrick Blagrave, Roberto Garcia-Saltos, Douglas Laxton and Fan Zhang
International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF)
Downloads 96 (520,949)

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Potential output, Gross domestic product, Inflation, Unemployment, Econometric models, Parameter estimation, Economic theory, Macroeconomic Modeling, economy, gdp, expectations, production, output gap, equations, variables

50.

Getting to Know GIMF: The Simulation Properties of the Global Integrated Monetary and Fiscal Model

IMF Working Paper No. 13/55
Number of pages: 67 Posted: 15 Mar 2013
Derek Anderson, Ben Hunt, Mika Pekka Kortelainen, Michael Kumhof, Douglas Laxton, Dirk Muir, Susanna Mursula and Stephen Snudden
International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department, Bank of Finland - Monetary Policy and Research Department, CEPR, International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF), International Monetary Fund (IMF) and Wilfrid Laurier University
Downloads 93 (531,727)
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51.

Estimates of Potential Output and the Neutral Rate for the U.S. Economy

IMF Working Paper No. 18/152
Number of pages: 32 Posted: 01 Aug 2018
Ali Alichi, Rania Al-Mashat, Hayk Avetisyan, Jaromír Beneš, Olivier Bizimana, Aram Butavyan, Robert Ford, Narek Ghazaryan, Vahagn Grigoryan, Mane Harutyunyan, Anahit Hovhannisyan, Edgar Hovhannisyan, Hayk Karapetyan, Mariam Kharaishvili, Douglas Laxton, Akaki Liqokeli, Karolina Matikyan, Gevorg Minasyan, Shalva Mkhatrishvili, Armen Nurbekyan, Andrei Orlov, Babken Pashinyan, Garik Petrosyan, Yekaterina Rezepina, Aleksandr Shirkhanyan, Tamta Sopromadze, Lusine Torosyan, Erik Vardanyan and Hou Wang
International Monetary Fund (IMF), International Monetary Fund (IMF), Independent, International Monetary Fund (IMF), International Monetary Fund (IMF), Independent, University of Oxford - Department of Sociology, Independent, Central Bank of Armenia, Independent, Independent, Independent, Independent, Independent, International Monetary Fund (IMF) - Research Department, Independent, Independent, Independent, Independent, CBA, Nizhny Novgorod State Technical University, Independent, Independent, Independent, Independent, Independent, Independent, Independent and International Monetary Fund (IMF)
Downloads 91 (539,161)

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United States, Western Hemisphere, Potential output, Macroeconomic Modeling, Neutral Rate, Model Construction and Estimation, Monetary Policy (Targets, Instruments, and Effects)

52.

Capacity Constraints, Inflation and the Transmission Mechanism: Forward-Looking Versus Myopic Policy Rules

IMF Working Paper No. 95/75
Number of pages: 42 Posted: 15 Feb 2006
Douglas Laxton
International Monetary Fund (IMF) - Research Department
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53.

Inflation Targeting with NAIRU Uncertainty and Endogenous Policy Credibility

IMF Working Paper No. 01/7
Number of pages: 41 Posted: 30 Jan 2006
Peter Isard, Douglas Laxton and Ann-Charlotte Eliasson
International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) - Research Department and Deutsche Bank Research
Downloads 85 (562,390)
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inflation targeting, monetary policy rules, credibility, NAIRU uncertainty

54.

Quarterly Projection Model for India: Key Elements and Properties

IMF Working Paper No. 17/33
Number of pages: 42 Posted: 23 Mar 2017
Jaromír Beneš, Kevin Clinton, asish thomas george, Pranav Gupta, Joice John, Ondra Kamenik, Douglas Laxton, Pratik Mitra, G.V. Nadhanael, Rafael Portillo, Hou Wang and Fan Zhang
International Monetary Fund (IMF), Government of Canada - Bank of Canada, Government of India - Reserve Bank of India, International Monetary Fund (IMF), Government of India - Reserve Bank of India, International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department, Government of India - Reserve Bank of India, Government of India - Reserve Bank of India, International Monetary Fund (IMF), International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 84 (566,358)
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Central banks and their policies, Monetary policy, Monetary transmission mechanism, Interest rate policy, Forecasting models, Inflation targeting, India, Asia and Pacific, inflation targeting; Reserve Bank of India; inflation episodes in India; forecasting models; monetary policy models; model calibration; monetary policy rules; monetary policy simulations, Reserve Bank of India, inflation episodes in India, monetary policy models, model calibration, monetary policy rules, monetary policy simulations, Model Evaluation and Testing, Forecasting and Other Model Applications, Forecasting and Simulation, Monetary Policy (Targets, Instruments, and Effects), Studies of Particular Policy Episodes

55.

GPM6: The Global Projection Model with 6 Regions

IMF Working Paper No. 13/87
Number of pages: 80 Posted: 03 May 2013
Ioan Carabenciov, Charles Freedman, Roberto Garcia-Saltos, Douglas Laxton, Ondra Kamenik and Peter B. Manchev
International Monetary Fund (IMF), Government of Canada - Bank of Canada, International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 83 (570,413)

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Forecasting models, Real effective exchange rates, Interest rates, External shocks, Unemployment, Demand, Spillovers, World Economic Outlook, Macroeconomic Modeling, Bayesian Estimation, Monetary Policy, exchange rate, inflation, real exchange rate, real interest rate, aggregate demand, purchasing power parity, rate of inflation, inflation target, nominal interest rate, real interest rates, exchange rates, purchasing power, real effective exchange rate, nominal exchange rate, effective exchange rate, real exchange rates, exchange rate movements, purchasing power parity terms, inflation rates, inflation equation, exchange rate appreciation, real exchange rate appreciation, inflationary pressu

56.

Why is Canada's Price Level so Predictable?

IMF Working Paper No. 08/25
Number of pages: 40 Posted: 04 Feb 2008
Vladimir Klyuev, Ondra Kamenik, Heesun Kiem and Douglas Laxton
International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF) and International Monetary Fund (IMF) - Research Department
Downloads 80 (582,890)
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Inflation targeting, Canada, Prices, Interest rates, Price stabilization

57.

Oil Price Movements and the Global Economy: A Model-Based Assessment

Downloads 77 (595,626)
Citation 2

Oil Price Movements and the Global Economy: A Model-Based Assessment

NBER Working Paper No. w13792
Number of pages: 49 Posted: 13 Feb 2008 Last Revised: 09 Sep 2022
Selim Ali Elekdag, Rene Lalonde, Douglas Laxton, Dirk Muir and Paolo A. Pesenti
International Monetary Fund (IMF) - Policy Development and Review Department, International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) - Research Department, Bank of Canada and Federal Reserve Bank of New York
Downloads 76 (608,462)

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Oil Price Movements and the Global Economy: A Model-Based Assessment

CEPR Discussion Paper No. DP6700
Number of pages: 51 Posted: 10 Jun 2008
Selim Ali Elekdag, Rene Lalonde, Dirk Muir, Douglas Laxton and Paolo A. Pesenti
International Monetary Fund (IMF) - Policy Development and Review Department, International Monetary Fund (IMF) - Research Department, Bank of Canada, International Monetary Fund (IMF) - Research Department and Federal Reserve Bank of New York
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DSGE models, Oil prices, World economy

58.

To Starve or Not to Starve the Beast?

IMF Working Paper No. 10/199
Number of pages: 37 Posted: 01 Feb 2011
Michael Kumhof, Douglas Laxton, Daniel Leigh and Daniel Leigh
CEPR, International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF)International Monetary Fund (IMF)
Downloads 73 (613,602)
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Budget deficits, Cross country analysis, Economic models, Fiscal analysis, Fiscal policy, Government expenditures, Tax policy, Tax reductions, United States, Welfare

59.

Banks in the Global Integrated Monetary and Fiscal Model

IMF Working Paper No. 15/150
Number of pages: 50 Posted: 31 Aug 2015
Michal Andrle, Michael Kumhof, Douglas Laxton and Dirk Muir
International Monetary Fund (IMF), CEPR, International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF)
Downloads 70 (627,664)

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Multi-Region DSGE Models, Financial Accelerator, Macro-Financial Linkages, Macroprudential Policy

60.

An Index for Transparency for Inflation-Targeting Central Banks: Application to the Czech National Bank

IMF Working Paper No. 18/210
Number of pages: 72 Posted: 16 Oct 2018
Rania Al-Mashat, Aleš Bulíř, N. Nergiz Dincer, Tibor Hlédik, Tomás Holub, Asya Kostanyan, Douglas Laxton, Armen Nurbekyan, Rafael Portillo and Hou Wang
International Monetary Fund (IMF), International Monetary Fund (IMF), TED University, Czech National Bank, Czech National Bank (CNB), CBA, International Monetary Fund (IMF) - Research Department, CBA, International Monetary Fund (IMF) and International Monetary Fund (IMF)
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Central banks, Czech Republic, Europe, Inflation targeting, Monetary policy, Transparency, General

61.

The Flexible System of Global Models – FSGM

IMF Working Paper No. 15/64
Number of pages: 67 Posted: 14 Apr 2015
Michal Andrle, Patrick Blagrave, Pedro Espaillat, Keiko Honjo, Ben Hunt, Mika Kortelainen, Rene Lalonde, Douglas Laxton, Eleonora Mavroeidi, Dirk Muir, Susanna Mursula and Stephen Snudden
International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF) and Wilfrid Laurier University
Downloads 65 (652,340)

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Economic theory, Demand, Prices, Commodities, Fiscal policy, Monetary policy, Group of Twenty, General equilibrium models, dynamic stochastic general equilibrium models, macroeconomic interdependence, consumption, investment, trade, potential output, aggregate demand

62.

Structural Models in Real Time

IMF Working Paper No. 10/56
Number of pages: 36 Posted: 15 Mar 2010
Jaromír Beneš, Kevin Clinton, Marianne Johnson, Troy Matheson and Douglas Laxton
International Monetary Fund (IMF), Government of Canada - Bank of Canada, Independent, Government of New Zealand - Department of Economics and International Monetary Fund (IMF) - Research Department
Downloads 64 (657,533)

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Economic forecasting, Economic indicators, Economic models, Monetary policy

63.

Adding China to the Global Projection Model

IMF Working Paper No. 13/256
Number of pages: 34 Posted: 20 Jan 2014
Patrick Blagrave, Peter Elliott, Roberto Garcia-Saltos, Douglas Hostland, Douglas Laxton and Fan Zhang
International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF), World Bank - Africa, International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF)
Downloads 62 (668,041)

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Forecasting models, China, Monetary policy, Inflation, Exchange rate regimes, Commodity prices, Global Macroeconomic Model, spillovers, inflation target, real interest rate, inflationary pressures, inflation dynamics, reserve requirements, nominal interest rate, monetary fund, inflation process, inflation equation, money base, increase in interest rates, monetary policy reaction function, transmission of monetary policy, monetary authority, inflationary impact, inflation rates, price elasticity, monetary policy decisions, real interest rates, inflation targeting, real wages, price level, foreign exchange, increase in inflation, nominal interest rates

64.

Constructing Forecast Confidence Bands During the Financial Crisis

IMF Working Paper No. 09/214
Number of pages: 24 Posted: 13 Oct 2009
Huigang Chen, Kevin Clinton, Ondra Kamenik, Marianne Johnson and Douglas Laxton
International Monetary Fund (IMF), Government of Canada - Bank of Canada, International Monetary Fund (IMF), Independent and International Monetary Fund (IMF) - Research Department
Downloads 62 (668,041)

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Bank credit, Credit restraint, Economic forecasting, Economic models, European Union, Inflation targeting, Interest rates, Japan, Monetary policy, Oil prices, United States

65.

The Macroeconomic Effects of Higher Oil Prices

IMF Working Paper No. 01/14
Number of pages: 47 Posted: 11 Aug 2009
Ben P. Hunt, Peter Isard and Douglas Laxton
affiliation not provided to SSRN, International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF) - Research Department
Downloads 61 (673,295)

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Oil prices, Monetary policy, Economic models

66.

Czech Magic: Implementing Inflation-Forecast Targeting at the CNB

IMF Working Paper No. 17/21
Number of pages: 57 Posted: 23 Mar 2017
Kevin Clinton, Tibor Hlédik, Tomás Holub, Douglas Laxton and Hou Wang
Government of Canada - Bank of Canada, Czech National Bank, Czech National Bank (CNB), International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF)
Downloads 60 (678,601)

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Inflation targeting, Czech Republic, Central banks, Monetary policy, Forecasting models, Inflation Targeting, Monetary Policy, Optimal Control

67.

Adding Latin America to the Global Projection Model

IMF Working Paper No. 09/85
Number of pages: 50 Posted: 28 Apr 2009
Charles Freedman, M. Eric Johnson, Jorge Iván Canales-Kriljenko, Roberto Garcia-Saltos and Douglas Laxton
Government of Canada - Bank of Canada, Independent, International Monetary Fund (IMF), International Monetary Fund (IMF) and International Monetary Fund (IMF) - Research Department
Downloads 60 (678,601)

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Economic models, Latin America, Monetary policy, Inflation targeting, Cross country analysis

68.

Some Simulation Properties of the Major Euro Area Economies in Multimod

IMF Working Paper No. 03/31
Number of pages: 31 Posted: 28 Jan 2006
Ben Hunt and Douglas Laxton
International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF) - Research Department
Downloads 60 (678,601)

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Macroeconomic models, simulation properties

69.

Multivariate Filter Estimation of Potential Output for the United States

IMF Working Paper No. 17/106
Number of pages: 26 Posted: 16 Oct 2017
Ali Alichi, Olivier Bizimana, Douglas Laxton, Kadir Tanyeri, Hou Wang, Jiaxiong Yao and Fan Zhang
International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 59 (684,133)
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Potential output, Monetary policy, Economic models, United States, Macroeconomic Modeling, Model Construction and Estimation, Monetary Policy (Targets, Instruments, and Effects)

70.

Reflating Japan: Time to Get Unconventional?

IMF Working Paper No. 16/157
Number of pages: 47 Posted: 09 Dec 2016
Elif C. Arbatli, Dennis P. J. Botman, Kevin Clinton, Pietro Cova, Vitor Gaspar, Zoltan Jakab, Douglas Laxton, Constant Lonkeng Ngouana, Joannes Mongardini and Hou Wang
International Monetary Fund (IMF), International Monetary Fund (IMF) - Fiscal Affairs Department, Government of Canada - Bank of Canada, Bank of Italy, European Commission, International Monetary Fund, International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF), International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 58 (689,555)
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Fiscal policy, Japan, Labor markets, Wages, Incomes policy, Fiscal reforms, Unconventional monetary policy instruments, Inflation targeting, Econometric models, Japan; monetary policy; fiscal policy; incomes policy; structural reforms

71.

IT Framework Design Parameters

IMF Working Paper No. 09/87
Number of pages: 18 Posted: 28 Apr 2009
Charles Freedman and Douglas Laxton
Government of Canada - Bank of Canada and International Monetary Fund (IMF) - Research Department
Downloads 58 (689,555)

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Information technology, Inflation targeting, Monetary policy, Inflation, Inflation rates, Central banks, Data collection, Data analysis

72.

Inflation-Forecast Targeting: Applying the Principle of Transparency

IMF Working Paper No. 15/132
Number of pages: 57 Posted: 21 Jul 2015
Kevin Clinton, Charles Freedman, Michel Juillard, Ondra Kamenik, Douglas Laxton and Hou Wang
Government of Canada - Bank of Canada, Government of Canada - Bank of Canada, Banque de France - Economic Study and Research Division, International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF)
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Inflation targeting, Monetary policy, Transparency, Central banks, Economic forecasting, Econometric models, Optimal Control, interest, interest rate, economy, expectations, interest rates, deflation, trade, exchange

73.

Inflation-Forecast Targeting for India: An Outline of the Analytical Framework

IMF Working Paper No. 17/32
Number of pages: 38 Posted: 23 Mar 2017
Jaromír Beneš, Kevin Clinton, asish thomas george, Joice John, Ondra Kamenik, Douglas Laxton, Pratik Mitra, G.V. Nadhanael, Hou Wang and Fan Zhang
International Monetary Fund (IMF), Government of Canada - Bank of Canada, Government of India - Reserve Bank of India, Government of India - Reserve Bank of India, International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department, Government of India - Reserve Bank of India, Government of India - Reserve Bank of India, International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 56 (700,757)

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Asia and Pacific, Disinflation, India, Inflation targeting, Forecasting models, Monetary policy, Price stabilization, Central banks and their policies, inflation targeting; Reserve Bank of India; inflation episodes in India; forecasting models; monetary policy models; model calibration; monetary policy rules; monetary policy simulations, Reserve Bank of India, inflation episodes in India, monetary policy models, model calibration, monetary policy rules, monetary policy simulations, Model Evaluation and Testing, Forecasting and Other Model Applications, Forecasting and Simulation, Monetary Policy (Targets, Instruments, and Effects), Studies of Particular Policy Episodes

74.

Multivariate Filter Estimation of Potential Output for the Euro Area and the United States

IMF Working Paper No. 15/253
Number of pages: 33 Posted: 03 Feb 2016
Ali Alichi, Olivier Bizimana, Silvia Domit, Emilio Fernández Corugedo, Douglas Laxton, Kadir Tanyeri, Hou Wang and Fan Zhang
International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF), Bank of England, International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF), International Monetary Fund (IMF) and International Monetary Fund (IMF)
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Macroeconomic Modeling, inflation, unemployment, gdp, productivity, Model Construction and Estimation, Monetary Policy (Targets, Instruments, and Effects),

75.

How to Improve Inflation Targeting in Canada

IMF Working Paper No. 16/192
Number of pages: 44 Posted: 09 Dec 2016
Maurice Obstfeld, Kevin Clinton, Ondra Kamenik, Douglas Laxton, Yulia Ustyugova and Hou Wang
University of California, Berkeley, Government of Canada - Bank of Canada, International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 53 (718,131)

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Inflation targeting, Canada, Monetary policy, United States, United Kingdom, Central banks, Transparency, Keynesian economics, Econometric models, Canada; inflation targeting; monetary policy; fiscal policy

76.

Monetary Rules for Small, Open, Emerging Economies

NBER Working Paper No. w9568
Number of pages: 59 Posted: 20 Mar 2003 Last Revised: 25 Aug 2022
Douglas Laxton and Paolo A. Pesenti
International Monetary Fund (IMF) - Research Department and Federal Reserve Bank of New York
Downloads 53 (718,131)
Citation 7

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77.

Benefits and Spillovers of Greater Competition in Europe: A Macroeconomic Assesment

NBER Working Paper No. w10416
Number of pages: 50 Posted: 21 Apr 2004 Last Revised: 19 Jun 2022
Tamim Bayoumi, Douglas Laxton and Paolo A. Pesenti
International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department and Federal Reserve Bank of New York
Downloads 52 (724,308)

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78.

Mitigating the Deadly Embrace in Financial Cycles: Countercyclical Buffers and Loan-to-Value Limits

IMF Working Paper No. 16/87
Number of pages: 27 Posted: 09 Dec 2016
Jaromír Beneš, Douglas Laxton and Joannes Mongardini
International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF)
Downloads 48 (749,551)

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Business cycles, Credit demand, Credit booms, Household credit, Housing prices, Mortgages, Systemic risk, Macroprudential Policy, Risk management, lending booms, credit crunch, financial crisis, financial cycle, housing market, countercyclical buffers, loan-to-value limits, macroprudential policies

79.

Strengthening the Monetary Policy Framework in Korea

IMF Working Paper No. 19/103
Number of pages: 29 Posted: 14 Jun 2019
Kevin Clinton, R. Craig, Douglas Laxton and Hou Wang
Government of Canada - Bank of Canada, International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department and International Monetary Fund (IMF)
Downloads 45 (769,472)

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Central bank policy, Bank rates, Interest rate policy, Central banks, Monetary policy, Korea, inflation targeting, output gap, ELB, inflation target, BOK, GFC

80.

Multivariate Filter Estimation of Potential Output for the United States: An Extension with Labor Market Hysteresis

IMF Working Paper No. 19/35
Number of pages: 36 Posted: 08 Apr 2019
Ali Alichi, Douglas Laxton, Shalva Mkhatrishvili, Armen Nurbekyan, Lusine Torosyan and Hou Wang
International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department, Independent, CBA, Independent and International Monetary Fund (IMF)
Downloads 44 (776,383)
Citation 2

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Business cycles, Unemployment, Potential output, Capacity utilization, Production growth, Macroeconomic Modeling, output gap, NAIRU, hysteresis, potential growth, Volcker

81.

A New Strategy for Korea's Fiscal Policy in a Low Growth Environment

IMF Working Paper No. 18/91
Number of pages: 28 Posted: 23 May 2018
Edda Zoli, Hou Wang, Douglas Laxton, Susanna Mursula and Jiaxiong Yao
International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 32 (869,122)

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Asia and Pacific, Korea, Republic of, aging; long-term fiscal sustainability; structural reforms; potential output, aging, long-term fiscal sustainability, structural reforms, potential output, Forecasting and Simulation

82.

Smooth Landing or Crash? Model-Based Scenarios of Global Current Account Rebalancing

NBER Working Paper No. w11583
Number of pages: 72 Posted: 26 Aug 2012 Last Revised: 27 Aug 2022
Hamid Faruqee, Douglas Laxton, Dirk Muir and Paolo A. Pesenti
International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) - Research Department, Bank of Canada and Federal Reserve Bank of New York
Downloads 25 (932,761)
Citation 9

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