This paper explores the economic impacts of Korean unification on North and South Korea. It presents a new consistent database on macroeconomic, sectoral and trade data, and an input output table for the North Korean economy, and then incorporates it in a global intertemporal multi-sector...

Researchers contributing to the empirical rent-sharing literature have typically resorted to estimating the responsiveness of workers' wages on firms' ability to pay in order to assess the extent to which employers share rents with their employees. This paper compares rent-sharing estimates...

Researchers contributing to the empirical rent-sharing literature have typically resorted to estimating the responsiveness of workers' wages on firms' ability to pay in order to assess the extent to which employers share rents with their employees. This paper compares rent-sharing estimates...

A key question in economic research and policymaking is to what extent one can use simplified models. This paper addresses this question by comparing the results of two learning-to-forecast laboratory experiments: one design based on the reduced form of a New-Keynesian model; and one design...

In a highly interlinked global economy a key question for policy makers is how foreign shocks and policies transmit to the domestic economy. We develop a semi-structural multi-country model with rich real and financial channels of international shock propagation for the euro area, the US, Japan,...

This volume analyses some thorny issues surrounding the new generation of EU trade and investment agreements. The idea originated in an academic event that the editors organised at the Faculty of Law of the University of Oslo in October 2014. The volume builds on the conviction that the...

Presented here is a simplified mathematical model to reflect a weak recovery after the financial crisis. The model confirms hypothesis that the weak recovery is caused by a decline in investment not compensated by the interest rate decrease. The model explains a transformation of economic trend...

This paper develops a teaching apparatus of Lucas's 1972 model aimed at improving students' ability to interpret the underlying structure of modern macroeconomics models. In this respect, the Lucas island model represents the perfect "case study", since it falls into the narrow range of mile...

We present conditions for the emergence of singularities in DGE models. We distinguish between slow-fast and impasse singularity types, review geometrical methods to deal with both types of singularity and apply them to DGE dynamics. We find that impasse singularities can generate new types of...

In this article, is analysed relationship between GDP and investments and proven on the basis of econometric models. Model of GDP determination is built on the basis of Solow model with the help of Cobb-Douglas production function. Econometric models for calculating the effectiveness of...