This book gives the historical development, explanations of technical specifications, and a basic understanding of how to use different equilibrium models in an applied framework. It contains an accessible analytical survey of economic equilibrium models, including multi-sector programming...

Two additional aspects are considered beyond the standard general equilibrium setting with production under uncertainty. Firstly, sequential production forces firms to forecast future demand, produce in advance, and store inventory. Secondly, firms face a location decision, locating near...

Most international commerce is carried out by multinational firms, which use their foreign affiliates for the majority of their foreign sales. In this paper, I examine the determinants of multinational firms' location and production decisions and the welfare implications of multinational...

In this paper, we introduce our GDSGE framework and MATLAB toolbox for solving dynamic stochastic general equilibrium models with a novel global solution method. The framework encompasses many well-known incomplete markets models with highly nonlinear dynamics such as models on financial crises,...

This paper reviews some puzzling economic aspects of globalisation and argues that they cannot be satisfactorily addressed in perfectly or monopolistically competitive models. Drawing on recent work, a model of oligopoly in general equilibrium is sketched. The model ensures theoretical...