Comparative analysis of economic structure and forecasts generated from simultaneous equation, VAR and autoregressive models based on quarterly series from 1966:1 to 2007:3 of UK to those from the stochastic general equilibrium models has provided insights into objective and subjective...

Shortly before the national elections in the Netherlands, the Netherlands Bureau for Economic Policy Analysis (CPB) evaluates the economic effects of the policy proposals in election programs. This paper investigates the sensitivity of this analysis to the uncertainty of parameter estimates in...

In this paper we present the first estimation results of total investment expenditure for the Romanian economy, applying the Bayesian estimation approach of DSGE models presented in a number of various papers appeared recently in the open literature. The procedure requires the linear...

A two-factors, two-goods, three-countries general equilibrium model is developed to assess the effects of a Free Trade Area (FTA) on pollution emissions. It also makes it possible to compare the effects of a discriminating commercial policy with alternative-non discriminating-policies, such as...

Pagan and Shannon's (1985) widely used approach employs local linearizations of a system of non-linear equations to obtain asymptotic distributions for the endogenous parameters (such as prices) from distributions over the exogenous parameters (such as estimates of taste, technology, or policy...

RESUMEN This study provides monetary estimates of the impacts of climate change in European agriculture. Future scenarios are derived from several socio-economic scenarios and experiments conducted using global climate moedls and regional climate models. The economic valuation is conducted by...

The various assessments of the effects of a liberalization of world sugar markets are inconsistent with each other. One cause seems to be the modeling of the EU supply response. We investigate three possible linkages between sugar production under quota and the out-of-quota or "C" sugar supply:...

Using a DSGE model calibrated to the euro area, we analyze the international effects of a fiscal devaluation (FD) implemented as a revenue-neutral shift from employer's social contributions to the Value Added Tax. We find that a FD in ‘Southern European countries’ has a strong...

Financial inclusion has been one of the key pillars of Colombia’s development strategy for a number of years. Financial inclusion policies have aimed at channeling microcredit to poor, spreading formal banking system usage, fostering electronic payment acceptance, and making financial...

This study aims to analyze the economic impacts of the adoption of Bt11 corn in Brazil, as well as the consequences of the prohibition of the cultivation only in the Paraná state, if the state law number 14.162/03 would start to be active. For this purpose, an inter-regional general equilibrium...