Model structure
What is GEES?
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A flexible, modular framework rather than a single, set-in-stone model
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Practical scenario builder based on DSGE foundations
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Emphasis on integrating a range of real and financial economy aspects, not on deep sectoral disaggregation
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Pragmatic features to introduce real-world regularities
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Balanced growth path
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Ease of operation and judgmental adjustments
Key modules
| Module | Brief description |
|---|---|
| Demography | Population and labor force |
| Households | Household decisions |
| Local production | Supply side for local markets |
| Monetary policy | Monetary policy reaction function |
| Fiscal policy | Fiscal budget, outlays, and receipts |
| Export, import, and BOP | Export produciton, import aggregation, and BOP |
| Commodities | Global commodity supply |
| Trade linkages | Bilateral international linkages in goods and services |
| Financial linkages | Bilateral international linkages in equity finance |