Our modelling team uses both partial and general equilibrium models to investigate trade and policy reforms scenarios, e.g. CAP reform, FTAs, WTO, and their impact on the agricultural sector, with particular emphasis in the UK. General Equilibrium (GE) models are used in areas where a...

Several times a year, OPEC hosts conferences with its members to review oil fundamentals and decide on production quota adjustments. The organization meets behind closed doors, but the opening meeting is open to the press and usually fuels market speculation on which agreement concerning oil...

Most of Basel II and III financial regulations are based on data, treated in a statistical mindset. While regulators call for forward-looking risk management, they suggest no time-based modeling approach. In macroeconomic catastrophes modeling, this is a great setback. This paper reports the...

We examine the monetary implications of Anticipated Future Consumption streams in utility.Ramsey optimal growth modelPaper is finalized

In a Bayesian setting, investments can be risky either because they are opaque, i.e., their payoff-relevant signals are noisy, or because they are fundamentally risky, i.e., the variance of the prior is high. When interest rates are low (high), investors favor opaque (transparent) projects that...

The concept of fair representation of voters in a committee representing different groups of voters, such as national representations in union of states, is discussed. This concept, introduced into discussion about voting rights in the Council of European Union in 2004, was narrowed to a...

Standard growth theory considers steady state equilibriums with a constant growth rate. Yet, a long tradition of long-term cyclical movements remains intolerable. Existing literature on "long waves" show tendencies toward monocausality, as well as cause-effect confusions. The present paper...

This paper develops a new data set using a new accounting methodology called National Transfer Accounts (NTA). NTA permit to build an accounting system that takes consideration the factor age into national accounts. NTA are consistent with national accounts and allows the estimation of lifecycle...

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The distribution of persons in each economy on their income is similar to the Maxwell-Boltzmann equilibrium distribution encountered in various physical systems. The transactions the persons are making to buy things that make them survive (in all sort of ways) are making them ‘poorer’...