The Austrian agricultural sector is very heterogeneous in natural conditions and farming systems and highly vulnerable to climate change (e.g. alpine farming). The economic assessment of climate change impacts on and adaptation measures for agriculture requires an integrated modeling approach to...

Policy analysis with a dynamic CGE model requires a baseline solution that is a plausible forecast of the whole set of model's variables. An important issue in the development of the baseline forecast is to account for structural change. This is aided by the technique of historical simulations...

In recent years, the computable general equilibrium (CGE) models for different regions have become an important area for research in economics. The aim of this paper is to analyze the fiscal policy and the effects of fiscal federalism to economic agents in a regional economy context. For this...

Venezuela is among the top 10 countries in the world with high rates of subsidies. Taking as reference the database of the IEA (2011), subsidies in Venezuela reach 20 billion US dollars, equivalent to 7% of GDP, or in per capita terms $690 per person. 86 percent of these subsidies are allocated...

Policy simulations during the last decades have been heavily relying on standard static CGE models with a small number of industries. Recently DSGE models (usually termed as New Keynesian) have been developed that incorporate dynamic behavior and institutional constraints at the aggregate...

The creation and accumulation of knowledge constitutes without any doubt one of the major drivers of progress and development. The incontrovertible evidence of that creative process is present everywhere in our daily routines and societies. However, it is rather difficult to define a measure of...

This paper aims at assessing how domestic urban-rural remittances can mitigate macroeconomic shocks in a developing country. When trade liberalization occurs, it may affect the national income structure and increase regional poverty, especially in a vulnerable economy where the volatility of...

It is now well accepted in both academic and policy worlds that human capital accumulation plays a significant role in the increase of standards of living in different countries. Education is a primary source of human capital and is a key aspect in public policies to develop human capital. From...

At the moment Israel is facing the worst water supply crisis since the beginning of record keeping more than 80 years ago. The Israeli National Water Authority (NWA) declared recently that drought conditions are continuing for eight consecutive years now (Jerusalem Post, 2012). This, together...

The objective of this study is to construct a 2-goods “tradable and non-tradable”, 4-factors, 13-industries, single-country general equilibrium model with references to the case- specific features of North Cyprus and explore the impact of external income shock on the economy as a whole. The...