Strategies to increase the contribution of renewable energy to the energy system and to enhance energy efficiency of industries and households are on the agenda of many countries. The motifs are manifold: using the domestic potential for energy generation and thus increasing energy security or...

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 aim of the work and our study is to determine the degree of development of Polish sustainable of the agricultural sector. Models SEM, in our study, are used to describe the relationship between there macro-aggregates that occur in sustainable system: sustainable economic, sustainable...

This article investigates the degree of persistence of different inflation rates for the Spanish economy using the Consumer Price Index (CPI) for the aggregate as well as for the regions, provinces and eight groups of goods and services, in addition to the Producer Price Index (PPI) for the...

This paper examines how globalisation has affected the transmission between changes in the policy rate and the term structure of interest rates. We …first estimate a cointegrated VAR model of the US daily term structure of interest rates. We then estimate the model using monthly data to allow...

Nickell and Layard (1999) conclude that "[t]here appear to be no differential tax effects on unemployment but there is evidence that overall labor tax rates do influence labor costs in the long run and hence raise unemployment." This paper asks whether this conclusion still holds, by approaching...

This paper introduces a Banking-Macro Model and estimates the linkages through a Multi-Regime VAR (MRVAR). We first introduce a dynamic model which is akin to the Brunnermeier and Sannikov (BS) model (2010). The banking sector borrows from capital markets, issues liabilities, accumulates assets,...

The aim of this study is to assess to what extent the Portuguese participation in the European Monetary System has been characterized by mean reverting behaviour, as predicted by the exchange rate target zone model developed by Krugman (1991). Although exchange rate mean reversion is widely...

As the globalization is increasing and economies are becoming more and more interdependent, some questions have gained more importance, for example, has globalization changed the inflation determinants? The control of monetary authority over domestic inflation & interest rate has decreased or...

The purpose of this paper is to understand the effects of the elasticity of intertemporal substitution (EIS), the percentage change in intertemporal consumption in response to a given percentage change in the intertemporal price, and risk aversion on savings separately and determine which...