In this paper we use a vector autoregressive approach to analyze the effects of infrastructure investment on economic performance using a newly developed data set for Portugal. We find that investments in other transportation infrastructures – railroads, ports and airports – and social...

We consider the environmental, economic, and budgetary effects of a new carbon tax indexed to the carbon price in the EU-ETS market in the context of a dynamic general equilibrium model of the Portuguese economy. We show that the careful recycling of the carbon tax revenues to finance reductions...

We measure the overall impact of railroad investment on economic growth in the antebellum period in the United States using a bivariate dynamic time series methodological approach, based on the use of a vector autoregressive (VAR) model. We find bidirectional causality between railroad...

In this paper we analyze the effects of infrastructure investment on economic performance in Portugal using a newly developed data set. We employ a vector autoregressive approach to estimate the elasticity and marginal products of investments on twelve different types of infrastructure...

We assess the relative role of fossil fuel prices, energy efficiency and carbon taxation in achieving climate policy goals using a dynamic general equilibrium model of the Portuguese economy with endogenous growth and a detailed modeling of public sector activities. We show that to achieve...

In this paper we describe the model structure, data, and implementation procedures for the Dynamic General Equilibrium model of the Portuguese Economy, DGEP for short. Previous versions of this model have been used to evaluate the impact of tax policy and social security reform in Portugal. More...

The purpose of this paper is to examine the strength of the relationship between unemployment and GDP, the extent to which this relationship has been stable in Virginia metropolitan statistical areas (MSA) during the Great Recession and to examine the importance of regional spillovers in...

Computable general equilibrium (CGE) and bottom-up models each have unique strengths and weakness in evaluating energy and climate policies. This paper describes the development of an integrated technological, economic modelling platform (HYBTEP), built through the soft-link between the bottomup...

We use a dynamic general equilibrium model to quantify the likely long-term impact of a fiscal devaluation on the Portuguese economy. In a context of exogenous growth, and imposing an unchanged budget deficit to GDP ratio in the year the policy is enacted, we find that a tax swap worth 1 percent...

This paper examines the environmental, economic and budgetary impacts of fuel prices using a dynamic general equilibrium model of the Portuguese economy which highlights the mechanisms of endogenous growth and includes a detailed modeling of the public sector. The fuel price scenarios are based...