One of the main concerns associated with the development and use of regional CGE models is the determination of key parameter values, particularly substitution and other price elasticities. A common problem is the lack of appropriate regional data for econometric estimation. Consequently, it is...

Researchers in policymaking institutions have expended significant effort to develop a new generation of macro models with more rigorous microfoundations. This paper provides a summary of the applications of two of these models. The Global Economy Model is a quarterly model that features a large...

This paper proposes a markedly different transmission mechanism from monetary policy to the macroeconomy, focusing on how policy changes nominal inertia in the Phillips curve. Using recent theoretical developments, we examine the properties of a small, estimated U.S. monetary model...

Accurate and reliable precipitation data with high spatial and temporal resolution are essential in studying climate variability, water resources management, and hydrological forecasting. A range of global precipitation data are available to this end, but how well these capture actual...

Among the many significant geopolitical consequences of Russia's war against Ukraine has been the reinvigoration of the Middle Corridor, both as a regional economic zone comprising Central Asia, the Caucasus, and Turkey but also as an increasingly attractive alternative route between Europe and...