WUMMWashington University Macro Model (economics)
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In the WUMM, a 100-basis-point cut in the funds rate boosts real GDP almost 1 percentage point after four quarters, and more than 2 percent after twelve quarters.
Like the WUMM, if the increase in household equity holdings associated with the funds rate reduction is removed, the gain in output is roughly halved.
It is rather different in its structure from the DRI, WUMM, and FRB models, and partly addresses some of the key criticisms of the older models (see Reifschneider, Tetlow, and Williams [1999]).