Similar to many sub-Saharan African countries, Sudan has inherited a dual economy in the immediate post-independence era where a large agriculture-based rural traditional sector coexisted with a small non-agricultural modern sector. This functional dualism remained until the first oil shipment...

This paper presents a detailed 2019 Social Accounting Matrix (SAM) for Benin as a basis for policy analysis with a focus on agriculture, food processing and energy generation from byproducts. It is based on official statistics collected from national and international institutions (national...

This paper analyzes the problem of a benevolent planner wishing to control a population of heterogeneous agents subject to idiosyncratic shocks. This is equivalent to a deterministic control problem in which the state variable is the cross-sectional distribution. We show how, in continuous time,...

This paper illustrates the representation of induced technological change in the multi-regional, multi-sectoral integrated assessment model WIAGEM. The main aim of this paper is to investigate quantitatively economic impacts of climate policy measures due to induced technological changes that...

A general and practical competitive market model for trading indivisible goods is introduced. There are a group of buyers and a group of sellers, and several indivisible goods. Each buyer is initially endowed with a sufficient amount of money and each seller is endowed with several units of each...

It is a stylized fact of formal mathematical modeling that a 'space' cannot be described by attempts at parameterization of distances or areas (under or above curves) that feasibly could occur within the space. Tools for parameterization of mathematical spaces, such as Set Theory, Connectedness,...

Economies are complicated systems encompassing micro behaviors, interaction patterns, and global regularities. Whether partial or general in scope, studies of economic systems must consider how to handle difficult real-world aspects such as asymmetric information, imperfect competition,...

Under the background of the electronic security trading platform Xetra operated by Frankfurt Stock Exchange, we consider the Xetra auction market system (XAMS) from 'bottom-up', which the interaction among heterogeneous traders and Xetra auction market mechanism generates non-equilibrium price...

This paper introduces a dynamical extension to the theoretical framework proposed by Slim (2009), where the author analyzes price formation in illegal markets. We develop a simple model with two regimes that can show a rich variety of dynamic behaviors, such as cyclical or even chaotic...

This paper describes the implementation in GAMS of an economic equilibrium model based on the GTAP version 9 dataset. We call this model and the ancillary programming tools GTAPINGAMS, version 9. Relative to previous installments of GTAPINGAMS, an innovation in this model is that it can easily...