After around one year from the natural disaster that affected Japan on March 2011, large uncertainty still exists in the quantification of the global economic impacts. The largest parts of studies mainly accounts for the physical damage excluding the cascading effects generated on world...

Policy simulations during the last decades have been heavily relying on standard static CGE models with a small number of industries. Recently DSGE models (usually termed as New Keynesian) have been developed that incorporate dynamic behavior and institutional constraints at the aggregate...