Relatively small sectoral productivity shocks could lead to sizable macroeconomic variability. Whereas most contributions in the literature analyze the issue of aggregate sensitivity using simple general equilibrium models, a novel approach is proposed in this paper, based on stochastic...

Relatively small sectoral productivity shocks could lead to sizable macroeconomic variability. Whereas most contributions in the literature analyze the issue of aggregate sensitivity using simple general equilibrium models, a novel approach is proposed in this paper, based on stochastic...

The concept of virtual water refers to the volume of water used in the production of a commodity or a service. The concept was identified by the geographer Tony Allan in the early 1990s, to draw attention on the global economic processes that ameliorate local water deficits in the MENA region...

The concept of virtual water refers to the volume of water used in the production of a commodity or a service. The concept was identified by the geographer Tony Allan in the early 1990s, to draw attention on the global economic processes that ameliorate local water deficits in the MENA region...

The PESETA research project integrates a set of high-resolution climate change projections and physical models into an economic modelling framework to quantify the impacts of climate change on vulnerable aspects of Europe. Four market impact categories are considered (agriculture, river floods,...

The PESETA research project integrates a set of high-resolution climate change projections and physical models into an economic modelling framework to quantify the impacts of climate change on vulnerable aspects of Europe. Four market impact categories are considered (agriculture, river floods,...