This study reports estimates from a model of the economic effects of 4G mobile wireless technology adoption in the United States on employment and economic growth and, based on those results, projects the benefits of 5G adoption under different counterfactual scenarios.

A new options-pricing formula applies to far-out-of-the money put options on the stock market when disaster risk dominates, the size distribution of disasters follows a power law, and the economy has a representative agent with Epstein-Zin utility. The elasticity of the put-options price is one...

This paper integrates a microsimulation (partial equilibrium) model of tax policy with a dynamic scoring approach to tax policy analysis using a dynamic general equilibrium macroeconomic model. Both approaches have strengths and weaknesses. Our integration of the two models combines the strength...

Mortality and economic contraction during the 1918–1920 Great Influenza Epidemic provide plausible upper bounds for outcomes under the coronavirus (COVID-19).

Purpose – This paper aims to examine the factors of growth of a developing country such as China. Because of the existence of domestic distortions, the traditional approach of using the growth of gross domestic product (GDP) to represent economic growth of the economy is not appropriate. This...

This paper presents the primary institutions and economic policies that have led to Chile’s remarkable record of stability and growth over the past twenty years. The core of this policy stance is the combination of fiscal discipline and an open trade policy regime, together with carefully...

The key policy challenge for Turkey in the years ahead will be to enhance and consolidate the advances made since the nation’s 2000-01 economic crisis. Higher growth could reduce unemployment and raise living standards toward European Union levels. This paper reviews Turkey’s...

This paper summarizes recent arguments/findings on two aspects of foreign direct investment (FDI): its correlation with economic growth and its determinants. The first part focuses on recent literature regarding positive spillovers from FDI while the second deals with the determinants of FDI....