In applied work in macroeconomics and finance, nonoptimal infinite horizon economies are often studied in which the state-space is unbounded. Important examples of such economies are single-sector growth models with production externalities, valued fiat money, monopolistic competition, and/or...

This paper analyses the effects of Oportunidades conditional cash transfer program on school attendance and household income distribution, accounting for its partial and general equilibrium effects. Linking a microeconometric simulation model and a general equilibrium model in a bidirectional...

This paper presents a methodology to integrate cost-benefit analysis and SAM-CGE-based impact evaluation. While the two types of analysis have developed in parallel and without a clear connection, there is growing consensus that the two approaches should be integrated for complex investment...

On May 5, 2020, the U.S. Trade Representative announced plans to negotiate a free trade agreement with the United Kingdom. We use GTAP to model the economic impacts of this free trade agreement, exclusively focusing on the bilateral tariff elimination. We find that a standard GTAP model leads to...

This paper describes MOLES 1.0, an integrated land-use and transport model developed with Object-Oriented Programming principles in order to combine selected characteristics from Spatial Computable General Equilibrium and microsimulation models.

We develop a general equilibrium model to investigate the adverse effects of liquidity risk on price discovery and to examine the interaction of (externally or internally imposed) solvency requirements for financial institutions with the accounting measurement for financial assets in markets...

This paper emphasizes the different nature of cross border liberalization in network related services, such as telecoms, compared to liberalization in goods. In the presence of network externalities, it argues that if two disjoint country service networks involving a small and large country are...

We develop a general equilibrium model of trade between identical countries. The model is similar to a 2x2x2 Heckser-Ohlin model, but the factors of production, skilled and unskilled labor, are endogenously determined from human capital investments by the workers. Firms are only able to observe...

This paper focuses on the relationship between tax reforms and environmental quality in Italy. First, we analyse some of the characteristics of the tax system. Within a dynamic model, we estimate the marginal distortion introduced by different taxes and show that the system is far from being...

We consider a general equilibrium model with endogenous human capital formation in which ex ante identical groups may be treated differently in equilibrium due to informational externalities. Unlike earlier models of statistical discrimination, group inequalities may arise even if the...