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...