Showing 1 - 10 of 1,657
We present a novel methodology to quantify the social costs and benefits (net social costs) of electric vehicles as an endogenous, demand-driven abatement technology in a general equilibrium framework. This new costing approach relates general equilibrium effects resulting from an increased...
Persistent link: https://www.econbiz.de/10011882961
A key parameter in real business cycle models is the weight on the utility of leisure. Typically this parameter is chosen so that the steady-state level of work activity matches the corresponding measure in the data, i.e. the amount of time workers spend in market activity. While the calibration...
Persistent link: https://www.econbiz.de/10010318614
In economic models of energy and climate policy, endogenous technological change is generally introduced as the result of either investment in research-and-development or of learningby-doing. In this paper, we analyze alternative ways of modeling learning-by-doing in the renewable energy sector...
Persistent link: https://www.econbiz.de/10010260920
We present a comprehensive framework for Bayesian estimation of structural nonlinear dynamic economic models on sparse grids. The Smolyak operator underlying the sparse grids approach frees global approximation from the curse of dimensionality and we apply it to a Chebyshev approximation of the...
Persistent link: https://www.econbiz.de/10010263720
We present an object-oriented software framework allowing to specify, solve, and estimate nonlinear dynamic general equilibrium (DSGE) models. The implemented solution methods for finding the unknown policy function are the standard linearization around the deterministic steady state, and a...
Persistent link: https://www.econbiz.de/10010263731
I explore the aggregate effects of micro lumpy labor adjustment in a prototypical RBC model, which embeds a stochastic labor duration mechanism in the spirit of Calvo(1983), and it extends this approach by introducing a Weibull-distributed labor adjustment process to capture the increasing...
Persistent link: https://www.econbiz.de/10010263744
This paper analyses the switch to an ACE or to a CBIT type of tax system starting from the present German tax system. We show that in case an ACE type of reform is financed by an increase in the VAT and not in the profit tax, it might be preferred to a CBIT even in the context of an open...
Persistent link: https://www.econbiz.de/10010264019
Empirically, the income share is procyclical for the low-income groups and acyclical for the top 5%. We find that business cycle models should consider overlapping generations and elastic labor supply in order to replicate this finding.
Persistent link: https://www.econbiz.de/10010264090
In the spirit of Harberger, we apply a dynamic computable general equilibrium (CGE) model and estimate the excess burden stemming from the tax-induced distortion in the allocation of capital across the corporate and the non-corporate sectors in Germany. In doing so, we perform a counterfactual...
Persistent link: https://www.econbiz.de/10010264456
We study the effect of a declining labor force on the incentives to engage in labor-saving technical change and ask how this effect is influenced by institutional characteristics of the pension scheme. When labor is scarcer it becomes more expensive and innovation investments that increase labor...
Persistent link: https://www.econbiz.de/10010264503