The standard partial equilibrium formula for pass-through substantially mismeasures incidence in the presence of demand or supply interdependencies. We study general equilibrium tax incidence in a perfectly competitive, multiproduct setting. If only one product is taxed, the general equilibrium...

On 5-6 September 2012 SUERF held its 30th Colloquium "States, Banks, and the Financing of the Economy" at the University of Zürich, Switzerland. The papers included in this SUERF Study are based on contributions to the Colloquium. All the chapters in this publication discuss from different...

The global fall in interest rates in recent decades has raised the possibility of a negative natural rate of interest. The secular stagnation hypothesis argues that a negative natural rate of interest is the underlying cause of the Great Recession. In this paper I demonstrate the role of bubbles...

In this paper, we introduce our GDSGE framework and MATLAB toolbox for solving dynamic stochastic general equilibrium models with a novel global solution method. The framework encompasses many well-known incomplete markets models with highly nonlinear dynamics such as models on financial crises,...

General-Equilibrium (GE) models were revived in the mid 1980s, in the computable form allowed by the progresses of information technology. They have been applied to the assessment of many economic policies, especially taxation, international trade and intergenerational transfers. A new recent...

Effectiveness, cost-efficiency and distribution issues are crucial for any form of future regulation. This results in the need for reliable instruments to assess regulations ex ante. Elasticities are key parameters for such instruments. We consistently estimate substitution elasticities for a...

We develop a general equilibrium framework to study a cryptocurrency system based on a mining process (proof-of-work protocol). The framework incorporates the priority queueing theory into a continuous-time monetary search model, which allows us to investigate the relationship between the demand...

R&D investment are an important engine of growth and development. Yet economists have often claimed under-investment, also due to the asymmetric information between inside investors and outside investors and financiers, and the consequent capital and financial market imperfections. Some recent...

This paper studies the formation of international climate coalitions by heterogeneous countries. Countries rationally predict the consequences of their membership decisions in climate negotiations. We offer an approach to characterise the equilibrium number of coalitions and their number of...

Several recent studies find that interventions in schools can have important lasting consequences for students, and that schools differ in their contribution to students’ learning. However, there is less research investigating how these differences between schools influence longer-term...