IGEM: A Dynamic General Equilibrium Model for Italy
Government of the Italian Republic (Italy), Ministry of Economy and Finance, Department of the Treasury Working Paper No. 4
58 Pages Posted: 11 Apr 2013
Date Written: April 4, 2013
This paper provides a full technical account of the Italian General Equilibrium Model (IGEM), a new dynamic general equilibrium model for the Italian economy developed at the Department of Treasury of the Italian Ministry of the Economy and Finance. IGEM integrates typical New Keynesian elements, such as imperfect competition and nominal rigidities, into a general equilibrium framework. One of the key features of the model is the detailed representation of the labor market, designed to capture the dualism of the Italian economic system. The new model will serve as a laboratory for policy analysis.
Keywords: Dynamic General Equilibrium Model, Simulation Analysis, Italy
JEL Classification: E27, E30, E60
Suggested Citation: Suggested Citation