In the MMB users can analyze in various models at the same time the consequences of a cut or a rise in interest rates, a tax reform or a stimulus package. Models of the Federal Reserve, the European Central Bank, the European Commission, the International Monetary Fund as well as the central banks of Sweden, Canada and Chile are already integrated on the platform.
The new version 2.1 offers four models concerning the US economy as well as a model for the euro area and Canada. Furthermore, the IMF Global Projection Model estimated on data covering six economic regions is integrated. Besides, the MMB 2.1 also includes two new monetary rules.
The tool clarifies the strengths and weaknesses of different models. Also the results of other studies can be checked. Basically, with the help of the MMB researchers can develop recommendations which show positive effects across different models. Comprehensive information on the integration of models, the implementation, and model comparison is summarized in the new Working paper no. 107 „New Methods for Macro-Financial Model Comparison and Policy Analysis“.
Besides Volker Wieland, the Modelbase team in Frankfurt currently consists of the IMFS researchers Elena Afanasyeva, Ph.D., and Meguy Kuete.
To the MMB website
IMFS Working Paper No. 107
Volker Wieland, Elena Afanasyeva, Meguy Kuete, Jinhyuk Yoo
New Methods for Macro-Financial Model Comparison and Policy Analysis