We address the issue of social distribution of an aggregate risk (on agricultural export price), from a macroeconomic perspective. Individual incomes in representative social groups are computed as a function of export prices, which are assumed to be stochastic, using an applied general...

This paper simulates the effects on the economy of Extremadura that are produced by a new tax on retail sales of some fuels. A computable general equilibrium model involving various labour market scenarios is employed as a modelling framework. Model parameters are obtained by calibration, using...

Starting from our earlier multi-region trade model, we develop two new 24 sector small open economy (SOE) computable general equilibrium models (CGE) of Chile. One is comparative static and the other is dynamic. We evaluate the impact of Chile forming free trade agreements with either NAFTA or...

This paper considers the technical aspects and the consequences, in terms of simulation results and policy assessment, of introducing imperfect competition in a CGE model. The modifications to the standard CGE framework needed to model imperfect competition in some industries are briefly...

We use a general equilibrium model of the world economy, and a regional economic growth model, to assess the economic implications of vulnerability from extreme meteorological events, induced by the climate change. In particular, we first consider the impact of climate change on ENSO and NAO...

The economy-wide implications of climate change on agricultural sectors in 2050 are estimated using a static computable general equilibrium model. Peculiar to this exercise is the coupling of the economic model with a climatic model forecasting temperature increase in the relevant year and with...

There seems to be no conclusive note on strengthening multilateralism except for the lip service generally paid by the World Trade Organization (WTO) members during their meetings, only to go back and get increasingly involved in their respective regional pursuits. The success of the Doha...

This paper discusses which changes in the architecture of a standard CGE model are needed in order to introduce effects of trade and firm het- erogeneity à la Melitz. Starting from a simple specification with partial equilibrium, one primary production factor and one industry, the framework is...

The paper investigates the term structure of interest rates imposed by equilibrium in a production economy consisting of participants with heterogeneous preferences. Consumption is restricted to an arbitrary number of discrete times. The paper contains an exact solution to market equilibrium and...

This paper aims at building a global CGE trade model at NUTS 1 level (subnational level) for the EU15 regions. The focus is on the production side. The model is used to assess production reallocation across sectors in each NUTS 1 regions after an agricultural tariff liberalization. Nevertheless,...