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Grippa, Pierpaolo; Mann, Samuel - 2020

This paper explores three possible transmission channels for transition risk shocks to the financial system in Norway. First, we estimate the direct firm-level impact of a substantial increase in domestic carbon prices under severe assumptions. Second, we map the impact of a drastic increase in...

Persistent link: https://www.econbiz.de/10012392495

A General Equilibrium Model of Sovereign Default and Business Cycles

Yue, Vivian Z. - 2011

Emerging markets business cycle models treat default risk as part of an exogenous interest rate on working capital, while sovereign default models treat income fluctuations as an exogenous endowment process with ad-noc default costs. We propose instead a general equilibrium model of both...

Persistent link: https://www.econbiz.de/10014399114

A general equilibrium model of sovereign default and business cycles

Mendoza, Enrique G.; Yue, Vivian Z. - 2011

Persistent link: https://www.econbiz.de/10009424831

How Does Financial Globalization Affect Risk Sharing? : Patterns and Channels

Terrones, Marco E. - 2007

In theory, one of the main benefits of financial globalization is that it should allow for more efficient international risk sharing. This paper provides a comprehensive empirical evaluation of the patterns of risk sharing among different groups of countries and examines how international...

Persistent link: https://www.econbiz.de/10014400319

Progressive taxation of extractive resources as second-best optimal policy

Wen, Jean-François - 2018

The paper provides a critical review of the literature on the concept of progressivity in the taxation of petroleum and mineral resources and offers a fresh perspective on its purpose and measurement. Regressive taxes, such as royalties, exist to satisfy policy objectives other than revenue...

Persistent link: https://www.econbiz.de/10011866423

Do temporary business tax cuts matter? : a general equilibrium analysis

Gbohoui, William - 2019

This paper develops a dynamic general equilibrium model to assess the effects of temporary business tax cuts. First, the analysis extends the Ricardian equivalence result to an environment with production and establishes that a temporary tax cut financed by a future tax-increase has no real...

Persistent link: https://www.econbiz.de/10012009276

The African Continental Free Trade Agreement : welfare gains estimates from a general equilibrium model

Abrego, Lisandro E.; Amado, Maria Alejandra; Gursoy, Tunc; … - 2019

In March 2018, representatives of member countries of the African Union signed the African Continental Free Trade Area (AfCFTA) agreement. This agreement provides a framework for trade liberalization in goods and services and is expected to eventually cover all African countries. Using a...

Persistent link: https://www.econbiz.de/10012102028

Trade wars and trade deals : estimated effects using a multi-sector model

Caceres, Carlos; Cerdeiro, Diego A.; Mano, Rui C. - 2019

to capture dynamic effects, such as those stemming from trade policy uncertainty. More generally, our results both …

Persistent link: https://www.econbiz.de/10012102091

Modeling trade tensions : different mechanisms in general equilibrium

Hunt, Benjamin F.; Mursula, Susanna; Portillo, Rafael; … - 2020

In this paper, we investigate the mechanisms through which import tariffs impact the macroeconomy in two large scale workhorse models used for quantitative policy analysis: a computational general equilibrium (CGE) model (Purdue University GTAP model) and a multi-country dynamic stochastic...

Persistent link: https://www.econbiz.de/10012486064

Trade uncertainty and investment in the euro area

Ebeke, Christian; Siminitz, Jesse - 2018

We analyze the impact of trade policy uncertainty on investment in the euro area. Our identification strategy assumes … respect to trade uncertainty. We find that the investment-to-GDP ratio is on average 0.8 percentage points lower for five … quarters following a one standard deviation increase in the level of trade uncertainty. We demonstrate that these results are …

Persistent link: https://www.econbiz.de/10011978678