This paper searches for a desirable tax combination in the coming aging society. It looks at the Japanese tax and social security systems through an extended life-cycle general equilibrium simulation model and evaluates the macroeconomic and welfare effects of alternative tax policies in an...

This paper contributes to the recent stream of literature on NK Model’s applications to the field of technological evolution. It is argued that while the model has a great explanatory potential in economics proper, its behavioral foundations are still maladapted for treatment of purportive...

This paper presents a number of scenario analyses, based on simulating DNB's multi-country model EUROMON, for the euro area economy. The scenarios deal with monetary policy and budgetary policy actions, and with exogenous shocks such as changes in oil prices, asset prices and exchange rates. The...

This paper studies the potential effects on the Italian economy of various reform packages in the spirit of the Europe 2020 strategy. Using the European Commission’s model QUEST III with R&D calibrated to match important features of the Italian economy, we provide a quantitative assessment of...

The present study attempts a quantitative assessment of the impact of recently signed ASEAN-India FTA (AIFTA) for selected plantation commodities (coffee, tea and pepper) in India. We use partial equilibrium modeling approach (SMART model and gravity model) to simulate the likely import increase...

Like other Central European countries, Poland faces the twin challenges of improving environmental quality while also fostering sustainable economic development. In this study we examine the costs of different standards for air pollution control, and the cost savings from using incentive-based...

An important task in the analysis of a behavioral simulation model is to explain clearly how the model's organizational assumptions lead to its simulated behavior. All too often, model-based arguments involve an uncomfortable "leap of logic" between equations and consequences. This paper...