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A DSGE model with partial euroization : the case of the Macedonian economy
Copaciu, Mihai; Madjoska, Joana; Mitesk, Mite - 2022
This paper describes the theoretical structure and estimation results for a DSGE model for the Macedonian economy. Having as benchmark the model of Copaciu et al. (2015), modified to allow for a fixed exchange rate, we are able to match relatively well the volatility observed in the data. Given...
Persistent link: https://www.econbiz.de/10012817051
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On green growth with sustainable capital
Basu, Parantap; Jamasb, Tooraj - 2020
We develop an endogenous growth model to address a long standing question whether sustainable green growth is feasible by re-allocating resource use between green (natural) and man-made (carbon intensive) capital. Although the model is general we relate it to the UKís green growth policy...
Persistent link: https://www.econbiz.de/10012255107
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Nuclear versus coal plus CCS : a comparison of two competitive base-load climate control options
Tavoni, Massimo; Zwaan, Bob van der - 2009
In this paper we analyze the relative importance and mutual behavior of two competing base-load electricity generation options that each are capable of contributing significantly to the abatement of global CO2 emissions: nuclear energy and coal-based power production complemented with CO2...
Persistent link: https://www.econbiz.de/10008824510
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Who learns more from Afar? : spatial empirical evidence on manufacturing and services
Vujanović, Nina - 2023
This paper investigates spatial dependence of FDI knowledge spillovers in manufacturing and services using spatial panel techniques applied to the 2006-2014 Bureau Van Dijk's Amadeus firm-level dataset for Croatia and Slovenia. The paper finds diverse results across the two sectors. The distance...
Persistent link: https://www.econbiz.de/10014227905
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What should we expect from innovation? : a model-based assessment of the environmental and mitigation cost implications of climate-related R&D
Bosetti, Valentina; Carraro, Carlo; Duval, Romain; … - 2010
This paper addresses two basic issues related to technological innovation and climate stabilisation objectives: i) Can … innovation policies be effective in stabilising greenhouse gas concentrations? ii) To what extent can innovation policies … technical progress in the energy sector. We evaluate a range of innovation policies, both as a stand-alone instrument and in …
Persistent link: https://www.econbiz.de/10008728830
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Carbon taxes, path dependency and directed technical change : evidence from the auto industry
Aghion, Philippe; Dechezleprêtre, Antoine; Hémous, David - 2012
innovation distinguishing between "dirty" (internal combustion engine) and "clean" (e.g. electric and hybrid) patents across 80 … tax-inclusive fuel prices. Furthermore, there is path dependence in the type of innovation both from aggregate spillovers … and from the firm's own innovation history. Using our model we simulate the increases in carbon taxes needed to allow …
Persistent link: https://www.econbiz.de/10009687266
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Reservation wages and the wage flexibility puzzle
Koenig, Felix; Manning, Alan; Petrongolo, Barbara - 2016
Wages are only mildly cyclical, implying that shocks to labour demand have a larger short-run impact on unemployment rather than wages, at odds with the quantitative predictions of the canonical search model - even if wages are only occasionally renegotiated. We argue that one source of the wage...
Persistent link: https://www.econbiz.de/10011446155
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Difference in Beliefs and Currency Options Markets
Beber, Alessandro; Breedon, Francis; Buraschi, Andrea - Institut für Schweizerisches Bankwesen <Zürich> - 2007
This paper investigates the impact of heterogeneous beliefs of professional investors on the currency options market. Using a unique data set with detailed information on the foreign-exchange forecasts of about 50 market participants over more than ten years, we construct an empirical proxy for...
Persistent link: https://www.econbiz.de/10005858023
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The impact of monetary policy on inequality in the UK : an empirical analysis
Mumtaz, Haroon; Theophilopoulou, Angeliki - 2016
The UK has experienced a dramatic increase in earnings and income inequality over the past four decades. We use detailed micro level information to construct quarterly historical measures of inequality from 1969 to 2012. We investigate whether monetary policy shocks played a role in explaining...
Persistent link: https://www.econbiz.de/10011431334
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Effects of monetary policy shocks on UK regional activity : a constrained MFVAR approach
Mandalinci, Zeyyad - 2015
This paper examines the effects of monetary policy shocks on UK regional economic growth and dispersion in a novel Constrained Mixed Frequency Vector Autoregressive framework. Compared to a standard MFVAR, the model partially accounts for missing quarterly observations for regional growth by...
Persistent link: https://www.econbiz.de/10011372798