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The formation of the European Union (EU) is the one of the biggest political – economic events of the last 50 years. The aim of this study is to develop EU economy functioning system dynamic model. Main research method is system dynamics. General scheme of EU economy system dynamic model is...
Persistent link: https://www.econbiz.de/10011259562
By integrating the fiat money into the structural growth model in [1], this paper presents a dynamic model for the simulation study of interest rate. And the model is illustrated with a numerical example. The equilibria of the numerical example are also computed by the method in [2]. The...
Persistent link: https://www.econbiz.de/10011113748
Prevailing trade theory is a neglected stepchild of economics. Micro rejects the sole reason for trade’s occurrence. It declares zero profit in equilibrium. Monetary theory and macroeconomics dismiss concerns of trade financing. They assert that money has nothing to do with traded output, but...
Persistent link: https://www.econbiz.de/10005408069
China is currently the world's largest single source of fossil fuel related CO2 emissions. In response to pressure from the international community, and in recognition of its role in global climate change mitigation, the Chinese government has announced a series of climate policy commitments, in...
Persistent link: https://www.econbiz.de/10011201609
otherwise be transmitted between regions while price-based systems such as a global carbon tax or a hybrid policy do not …. Moreover, in the case of a financial meltdown, a price based system enables significant emissions reductions at low economic …
Persistent link: https://www.econbiz.de/10010904216
otherwise be transmitted between regions while price-based systems such as a global carbon tax or a hybrid policy do not …. Moreover, in the case of a financial meltdown, a price based system enables significant emissions reductions at low economic …
Persistent link: https://www.econbiz.de/10009643933
assessing and estimating the impact of food price variability and volatility on household poverty. More precisely, the … methodologies and problems in measurement of food price variability’s impacts. The last part links volatility to vulnerability … complexity of relationships between food price variation and poverty will be first examined. The second part addresses a range of …
Persistent link: https://www.econbiz.de/10010552096
The next international version of the System of National Accounts will recommend that R&D (Research and Development) expenditures be capitalized instead of being immediately expensed as in the present System of National Accounts 1993. An R&D project creates a new technology, which in principle...
Persistent link: https://www.econbiz.de/10004977061
In this paper we argue that in realistically calibrated two period general equilibrium models with incomplete markets CAPM-pricing provides a good benchmark for equilibrium prices even when agents are not mean-variance optimizers and returns are not normally distributed. We numerically...
Persistent link: https://www.econbiz.de/10011092773
Since Leon Walras neoclassical economists hold an inalterable belief in a unique and stable equilibrium for the economic system which however remains to this day unobservable. Yet that belief is the corner stone of other theories such as the 'Effi-cient Market Hypothesis' as well as the...
Persistent link: https://www.econbiz.de/10011183024