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This paper, using a six-region DSGE model of the world economy, assesses the GDP and current account implications of permanent oil supply shocks hitting the world economy at an unspecified future date. For modest-sized shocks and conventional production technologies the effects are modest. But...
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The paper develops a simple three-sector model of a developing country with nominal wage rigidity, in which one sector is thought of as the primary sector and the other two are sectors in which the country can diversify. The paper then analyzes the relationship between the market structure of...
Persistent link: https://www.econbiz.de/10005825986
own-price elasticity of quantity demand for soda of between -1.0 and -1.3. These estimates ignore consumer responses on … prices to estimate unrestricted demand models that correct for both errors. The corrected own-price elasticity of quantity … demand is just -0.2 to -0.3, so tax-induced soda price increases might cut average weights by less than one pound, which is …
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In empirical demand, industrial organization, and labor economics, prices are often unobserved or unobservable since …-consistent demand analysis remains feasible in the presence of partially observed prices, and hence partially observed implied budget …
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price elasticity of demand for cannabis and implications for likely state excise and sales tax revenues. We use crowdsourced … elasticity of demand for cannabis. We use distances from growing areas to the major markets as a proxy for cost variations. We … obtain an estimate of the price elasticity of demand for cannabis of -0.418, which suggests that legalizing and taxing …
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