IGEM II: A New Variant of the Italian General Equilibrium Model

Government of the Italian Republic (Italy), Ministry of Economy and Finance, Department of the Treasury Working Paper No. 4

58 Pages Posted: 17 Jan 2017  

Barbara Annicchiarico

University of Rome, Tor Vergata - Department of Economics and Finance

Fabio Di Dio

Sogei S.p.a.

Francesco Felici

Government of the Italian Republic (Italy) - Ministry of Economy and Finance - Department of the Treasury

Date Written: October 31, 2016

Abstract

This paper provides a full technical description of a variant of the Italian General Equilibrium Model (IGEM), a dynamic general equilibrium model used as a laboratory for policy analysis at the Department of the Italian Treasury. This version of IGEM presents four specific key features: (i) imperfectly competitive final good sector; (ii) involuntary unemployment; (iii) a business tax bearing on firms; (iv) market frictions in the labor market of atypical workers.

The paper presents some simulation scenarios of structural and fiscal reforms.

Keywords: Dynamic General Equilibrium Model, Quantitative Policy Analysis, Simulation Analysis, Italy

JEL Classification: E27, E30, E60

Suggested Citation

Annicchiarico, Barbara and Di Dio, Fabio and Felici, Francesco, IGEM II: A New Variant of the Italian General Equilibrium Model (October 31, 2016). Government of the Italian Republic (Italy), Ministry of Economy and Finance, Department of the Treasury Working Paper No. 4. Available at SSRN: https://ssrn.com/abstract=2900296

Barbara Annicchiarico (Contact Author)

University of Rome, Tor Vergata - Department of Economics and Finance ( email )

Rome, I-00133
Italy

Fabio Di Dio

Sogei S.p.a. ( email )

Via Mario Carucci n. 99 e 85
Roma, 00143
Italy
+39068544 9092 (Phone)

Francesco Felici

Government of the Italian Republic (Italy) - Ministry of Economy and Finance - Department of the Treasury ( email )

Via XX Settembre, 97
Rome, 00187
Italy
00390647614197 (Phone)

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