Applied general and partial equilibrium models are widely used tools for ex ante analysis of trade policy changes. However, simulation results seem to exhibit significant variation across publications, and the often criticised ‘black box’ character of applied trade models makes meaningful...

Applied general and partial equilibrium models are widely used tools for ex ante analysis of trade policy changes. However, simulation results seem to exhibit significant variation across publications, and the often criticised 'black box' character of applied trade models makes meaningful...

This teaching note provides step-by-step instruction for simulating the net present value and the internal rate of return of a five-year project. The uncertainty lie in the initial level of sales, sales growth rates, gross profit margins, operating expenses before depreciation, and the terminal...

We present an order flow model framework for limit order driven markets. Different from previous models we explicitly model a reference price process that “sweeps” the limit order book as it fluctuates up and down. Our framework allows us to use any stochastic process to model this reference...

In empirical analysis, the Kakwani index is the most frequently used indicator for comparing progressivity across countries and over time. The Kakwani is often assumed to measure to what extent a policy design is targeted to the poor. It has, however, a major drawback: it is not defined for net...

This proposal is interested to find which mechanisms, methods, techniques, models and software can be used to create a policy maker artificial intelligence simulator. The same research suggests the uses of the Artificial Intelligence (AI) , Econographicology (EG) and Computer Programming (CP) in...

The Finnish National Election Study of 2003 revealed that in Finland most voters do not identify with parties and are self-described as independents. In this article it is asserted that partisan attachments affect Finnish parties’ optimal positions despite the large amount of independents. To...

This paper introduces methods to coordinate black box simulations in the construction of metamodels for situations in which we have to deal with coupled black boxes. We define three coordination methods: parallel simulation, sequential simulation and sequential modeling. To compare these three...