Showing 1 - 10 of 56
This paper examines the distributional consequences of public debt reduction achieved through spending cuts. Under the assumption that public goods and transfers are relatively more valuable to the poor, our calculations indicate that the elderly poor stand to lose from such policies. Debt...
Persistent link: https://www.econbiz.de/10010320815
Computable general equilibrium models play an important role in applied economic research. These models accommodate the micro-consistent systematic analysis of complex economic problems where analytical solutions are either not available or do not provide adequate information. However, the...
Persistent link: https://www.econbiz.de/10011449581
Although trade liberalisation has been linked econometrically and through casual empiricism to large income increases, attempts to quantify its impact in static simulation models have shown small estimated gains. This paper shows that when the endogenous dynamic effects of trade liberalisation...
Persistent link: https://www.econbiz.de/10011608428
Gains from productivity and knowledge transmission arising from the presence of foreign firms has received a good deal of empirical attention, but micro-foundations for this mechanism are weak . Here we focus on production by foreign experts who may train domestic unskilled workers who work with...
Persistent link: https://www.econbiz.de/10010260535
This paper develops a decomposition algorithm by which a market economy with many households may be solved through the computation of equilibria for a sequence of representative agent economies. The paper examines local and global convergence properties of the sequential recalibration (SR)...
Persistent link: https://www.econbiz.de/10010264688
We evaluate the efficacy of international trade in carbon emission permits when countries are guided strictly by their national self-interest. To do so, we construct a calibrated general equilibrium model that jointly describes the world economy and the strategic incentives that guide the design...
Persistent link: https://www.econbiz.de/10010266884
In its fight against climate change the EU is committed to reducing its overall greenhouse gas emissions to at least 20% below 1990 levels by 2020. To meet this commitment, the EU builds on segmented market regulation with an EU-wide cap-and-trade system for emissions from energy-intensive...
Persistent link: https://www.econbiz.de/10010271425
Gains from productivity and knowledge transmission arising from the presence of foreign firms has received a good deal of empirical attention, but micro-foundations for this mechanism are weak . Here we focus on production by foreign experts who may train domestic unskilled workers who work with...
Persistent link: https://www.econbiz.de/10010295682
We investigate the importance of ?what?-flexibility on top of ?where?- and ?when?-flexibility for alternative emission control schemes that prescribe long-term temperature targets and eventually impose additional constraints on the rate of temperature change. We find that ?what?-flexibility...
Persistent link: https://www.econbiz.de/10010297390
We motivate the formulation of market equilibria as a mixed complementarity problem (MCP) in order to bridge the gap between bottom-up energy system models and top-down general equilibrium models for energy policy analysis. Our objective is primarily pedagogic. We first lay out that the MCP...
Persistent link: https://www.econbiz.de/10010297453