01887cas a2200265 a 4500 AALejournalIMF000151 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451975147 1018-5941 BD-DhAAL BD-DhAAL Gagnon, Joseph. German Unification : What Have We Learned From Multi-Country Models? / Joseph Gagnon, Paul Masson, Warwick McKibbin. Washington, D.C. : International Monetary Fund, 1996. 1 online resource (38 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This study reviews early simulations of the effects of German unification using three different rational-expectations multi-country models. Despite significant differences in their structures and in the implementations of the unification shock, the models delivered a number of common results that proved reasonably accurate guides to the direction and magnitude of the effects of unification on key macroeconomic variables. Unification was expected to give rise to an increase in German aggregate demand that would put upward pressure on output, inflation, and the exchange rate, and downward pressure on the current account balance. The model simulations also highlighted contractionary effects of high German interest rates on EMS countries. Mode of access: Internet Masson, Paul. McKibbin, Warwick. IMF Working Papers; Working Paper ; No. 1996/043 Full text available on IMF http://elibrary.imf.org/view/journals/001/1996/043/001.1996.issue-043-en.xml IMF e-Library