Much of the current debate in ageing countries focuses on whether governments should increase investments in human capital. We address this issue by simulating the effects of additional education spending using an overlapping-generations model applied to Canada. In the context of population...

This paper analyzes the ex-ante short-term impacts of the Chinese RMB appreciation on the Chinese and world economy, using a novel approach of modeling nominal exchange rate adjustment in the GTAP, a global CGE model. Scenario results show that Chinese economy will be affected negatively, with...

A simple general equilibrium model is borrowed from economics to study alternative foreign policy strategies of regional powers that are conditional on external constraints. An equilibrium hegemonic strategy is modeled as the joint production and consumption of two “goods” (empire and...