In this paper we study the potential effects on the Italian economy of various reform packages in the spirit of the Europe 2020 strategy. By using the version adapted for Italy of the endogenous growth model developed by the DG ECFIN for economic policy evaluation (QUEST III with R&D), through...

This study addresses price convergence in two cities in Turkey (Istanbul and Ankara) using the annual data over the three quarters of the 20th century (1922–1998), characterized by prevailing high inflation rates for most of the period. In contrast to the rest of the literature addressing...

The paper details construction of a regional social accounting matrix (RSAM) for Russia. The RSAM is constructed for the SUST-RUS regional computable general equilibrium model. The SUST-RUS model is aimed on assessment of sustainable development policies in Russia. In the process of the RSAM...

The present paper describes the construction and first empirical application of the SUSTRUS model (the name of the model refers to “Sustainable Russia”). This model will be the main result of the same-named EU funded project. The SUSTRUS model belongs to the group of regional CGE models,...

Like the central banks of developed countries, the central bank of Morocco (Bank Al-Maghrib, BAM) has since the 1990s, upgraded instruments and practice of monetary policy. The purpose of this study is to examine the implementation by the institution of a Taylor-type rule in its active monetary...

High current levels of deficit-to-GDP and debt-to-GDP ratios combined with medium- and long-term spending pressures on public finances urge the need for fiscal consolidations in most of the world. The literature on the short-term output effects of fiscal consolidations has been far from...

The objectives of this research are to develop a multi-region multi-sector CGE model with FDI that will allow assessing the impact of security measures on the Canadian and U.S. economies. We assess the impact in terms of Canada-U.S. bilateral trade and foreign direct investment, but also in...

This paper describes the development of a portfolio balance model for an open economy with endogenous asset supply. Domestic producers finance capital goods through credit and bonds according to debt capital costs as well as equity assets. Private households hold a portfolio of domestic and...

A sectorally disaggregated CGE model is a powerful tool for economic policy simulation. Using the sectoral data, that are encompassing 71 sectors/commodities taken from the most recent input-output table refering to 2007, we were able to construct a detailed general equilibrium model for Germany...

This paper investigates the return linkages and volatility transmission between oil and stock markets in the Gulf Cooperation Council (GCC) countries over the recent period 2005-2010. We employ a recent generalized VAR-GARCH approach which allows for transmissions in return and volatility. In...