This paper provides a technical description of GEM-PIA, a recursive-dynamic computable General Equilibrium Model for Poverty Impact Analysis in individual countries. The model combines the optimizing behavior of CGE models with the asset portfolio behavior of macromodels, thereby addressing the...

Evidence on the portfolio holdings and transaction patterns of households suggests that the burden of inflation is not evenly distributed. We build a monetary growth model consistent with key features of cross- sectional household data and use this framework to study the distributional impact of...

This paper proposes a super-/sub-hedging strategy for a derivative on two underlying assets using Young's inequality.The strategy dose not depend on any model for the dependency between the underlying assets, but on their marginal distributions. The bounds enforced by the hedging portfolio is...