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Equilibrium in a Non-Interest Open Economy
International Monetary Fund - 1988
This paper analyzes an economy in which there are no interest-bearing assets, only equity shares. Equilibrium conditions are derived for the case of a closed economy, an open economy with trade in goods only, and finally one with trade in both goods and equity shares. It is shown that the rate...
Persistent link: https://www.econbiz.de/10014395912
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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
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Trade wars and trade deals : estimated effects using a multi-sector model
Caceres, Carlos; Cerdeiro, Diego A.; Mano, Rui C. - 2019
This paper studies the potential long-term effects of three illustrative scenarios using a multi-sector computable general equilibrium (CGE) trade model calibrated to 165 countries. The first scenario estimates effects from potential U.S. auto tariffs. The second analyzes a 'transactional deal'...
Persistent link: https://www.econbiz.de/10012102091
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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
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The measurement of external accounts
Adler, Gustavo; Garcia-Macia, Daniel; Krogstrup, Signe - 2019
Growing international integration in trade and finance can challenge the measurement of external accounts. This paper presents a unified conceptual framework for identifying sources of mismeasurement of foreign investment income in current account balances. The framework allows to derive a...
Persistent link: https://www.econbiz.de/10012102053
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Externalities. Incentives, and Economic Reforms
International Monetary Fund - 1990
The paper emphasizes the role of institutions and incentives in the presence of externalities. An economy with multiple …
Persistent link: https://www.econbiz.de/10014396155
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Banks As Coordinators of Economic Growth
Ueda, Kenichi - 2006
This paper formally identifies an important role of banks: Banks competitively internalize production externalities and … facilitate economic growth. I formulate a canonical growth model with externalities as a game among consumers, firms, and banks …. Banks compete for deposits to seek monopoly profits, including externalities. Using loan contracts that specify price and …
Persistent link: https://www.econbiz.de/10014399670
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Vertical Tax Externalities in the Theory of Fiscal Federalism
Keen, Michael - 1997
Vertical tax externalities between levels of government can occur in federal structures, with responses to the tax … governments co-occupy the same tax base. This paper examines these externalities by considering their implications for a range of …
Persistent link: https://www.econbiz.de/10014403318
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External Tariff Liberalization in Caricom : A Commodity-Level Analysis
Sadikov, Azim M. - 2008
This paper estimates the impact of the tariff liberalization in four largest CARICOM countries (Barbados, Guyana, Jamaica, and Trinidad and Tobago) on their trade flows. I trace changes in the product-line imports from CARICOM and non-CARICOM countries against time and commodity-level variation...
Persistent link: https://www.econbiz.de/10014401756
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The potential macroeconomic impact of the unconventional oil and gas boom in the United States
Hunt, Benjamin F.; Muir, Dirk; Sommer, Martin - 2015
Persistent link: https://www.econbiz.de/10011281177