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Expectations Traps and Coordination Failures : Selecting among Multiple Discretionary Equilibria
Dennis, Richard; Kirsanova, Tatiana - 2010
to a particular equilibrium. In this paper, we employ notions of robustness, learnability, and the potential for policy … errors to motivate and develop a suite of equilibrium selection criteria. Central among these criteria are whether the … equilibrium is learnable by private agents and jointly learnable by private agents and the policymaker. We use two New Keynesian …
Persistent link: https://www.econbiz.de/10014191856
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Modelling industry specific policy with TIM : Treasury's multi-sector dynamic general equilibrium model of the Australian economy
Carlton, Freya; Gustafsson, Linus; Hinson, Melissa; … - 2023
generally equilibrium model to meet this need - the Treasury Industry Model (TIM). As a general equilibrium model, TIM captures …
Persistent link: https://www.econbiz.de/10014333506
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The impacts of the early 20th century physics and mathematics crisis on contemporary economics discourse
Luperi, Mauricio Martinelli - In: Brazilian journal of political economy 37 (2017) 4, pp. 734-754
Persistent link: https://www.econbiz.de/10011952014
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Impact and cost-benefit analysis : a unifying approach
Scandizzo, Pasquale Lucio - In: Journal of economic structures : JES; the official … 10 (2021), pp. 1-13
partial equilibrium assumptions of cost-benefit (CB) analysis. Unlike CB analysis, impact evaluation looks at the economy as a …
Persistent link: https://www.econbiz.de/10012588776
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The Economic Impact of Tariff Eliminations in a U.S.-U.K. Free Trade Agreement : A CGE Model with Worker Displacement
Ferry, Jeff; Narayanan Gopalakrishnan, Badri; Mayoral, … - 2021
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...
Persistent link: https://www.econbiz.de/10013215978
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Rebating revenues from unilateral emissions pricing
Böhringer, Christoph; Fischer, Carolyn; Rivers, Nicholas - 2024
This paper evaluates alternative options for rebating revenues from a unilateral emissions price, focusing on energy-intensive and trade-exposed industries. A theoretical model is developed to demonstrate that conditional rebating policies—which would be distortionary in a first-best...
Persistent link: https://www.econbiz.de/10015071184
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(Un)Predictability and macroeconomic stability
D'Agostino, Antonello (contributor);  … - 2006
This paper documents a new stylized fact of the greater macroeconomic stability of the U.S. economy over the last two decades. Using 131 monthly time series, three popular statistical methods and the forecasts of the Federal Reserve's Greenbook and the Survey of Professional Forecasters, we show...
Persistent link: https://www.econbiz.de/10003310819
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Macroeconomic consequences of demographic change : modeling issues and applications
Rausch, Sebastian - 2009
Persistent link: https://www.econbiz.de/10003796756
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Environmental policy and the macroeconomy under shallow-lake dynamics
Heijdra, Ben J.; Heijnen, Pim - 2009
ecological equilibrium is hysteretic and a suitably designed temporary abatement policy can be used to steer the environment from … the bad to the good equilibrium. In all models considered in this paper, a "cold turkey" abatement policy is optimal, i …
Persistent link: https://www.econbiz.de/10003910506
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Expectations traps and coordination failures : selecting among multiple discretionary equilibria
Dennis, Richard J.; Kirsanova, Tatiana - 2010
Persistent link: https://www.econbiz.de/10003978234