The analysis of economywide models is a particularly demanding topic in economics since it involves the study of interdependence. It implies a move to the realm of multiple heterogeneous agents, sectors and institutions interacting in complex ways. While there are some analytical methods and...

This paper, and its accompanying programs, provide a practical introduction to macroeconomic policy analysis methods and show how to implement in DUALI deterministic and stochastic simulations with standard and rational expectations models. The analysis of the general properties of dynamic...

The first two sections of the paper are devoted to a combination of Kuznets and structuralist stories, where we ask how the agricultural/nonagricultural terms of trade and income distribution must adjust to permit both savings and investment and commodity market balance to be assured. It will be...

Despite worldwide policy efforts such as the Kyoto Protocol, the emission of greenhouse gases (GHG) remains a negative externality. Economic equilibrium paths in the presence of such an uncorrected externality are inefficient; as a consequence there is no real economic opportunity cost to...

Social preferences such as altruism, reciprocity, intrinsic motivation and a desire to uphold ethical norms are essential to good government, often facilitating socially desirable allocations that would be unattainable by incentives that appeal solely to self-interest. But experimental and other...

Networks such as ethnic credit associations, close-knit residential neighborhoods, ‘old boy’networks, and ethnically linked businesses play an important role in economic life but have been little studied by economists. These networks are often supported by cultural distinctions between...

Social preferences such as altruism, reciprocity, intrinsic motivation and a desire to uphold ethical norms are essential to good government, often facilitating socially desirable allocations that would be unattainable by incentives that appeal solely to self-interest. But experimental and other...

A reduction of impediments to international flows of goods, capital and professional labor is thought to raise the economic costs of programs by the nation state (and labor unions) to redistribute income to the poor and to provide economic security. But some of the more politically and...