This paper describes a methodology to develop a Computable General Equilibrium model with a sub-national detail starting from a global database and model presenting the country-level as the highest resolution. This procedure is demonstratively applied to Italy, but can be transferred to any...

The paper provides estimates of economic impacts of climate change, compares these with historical impacts of drought spells, and estimates the extent to which the current Moroccan agricultural development and investment strategy, the Plan Maroc Vert, helps in agricultural adaptation to climate...

It is expected that binding biophysical constraints have the potential to slow growth and impede the improvement of other key macroeconomic variables. Using a DYNK (Dynamic New Keynesian) model of the EU27, we study two different environmental policy options and evaluate their impact on...

This paper derives the optimal lending contract in the financial accelerator model of Bernanke, Gertler and Gilchrist (1999), hereafter BGG. The optimal contract includes indexation to the aggregate return on capital, household consumption, and the return to internal funds. This triple...

This paper develops a model of segmented financial markets in which the net worth of financial institutions limits the degree of arbitrage across the term structure. The model is embedded into the canonical Dynamic New Keynesian (DNK) framework. We estimate the model using data on the term...