This paper implements a simple Monte Carlo calibration approach to quantitatively study the Hansen and Imrohoroglu (1992) economy, a GE model with uninsurable employment risk, designed to assess the optimal replacement rate for a public Unemployment Insurance scheme. The results of this...

This manual describes the usage of the accompanying freely available software package for estimation and testing in the fractionally cointegrated vector autoregressive (VAR) model.

The goal of a proper project evaluation is to stop bad projects and to prevent good projects from being rejected. This book on Cost-Benefit Analysis for Investment Decisions is aimed at helping public officials and private analysts develop and evaluate investment projects to promote economic and...

Important as it is for public policy, there is still no consensus about the size of the revenue-maximizing tax rate at the top of the Laffer curve. The purpose of this essay is not to supply a correct rate, but to identify difficulties in doing so. 1) Estimates of the revenue-maximizing tax rate...

We examine optimal information flows between a manager and a worker who is in charge of evaluating a parameter of interest, e.g. the value of a project. The manager may possesses information about the parameter, and, if informed, may divulge her information to the worker. We show that...

This research examines households’ willingness to pay (WTP) for an improved electricity service. Households’ stated WTP is estimated using the choice experiment method (CE). The data used in the estimations came from 350 in-person interviews conducted during the period 5–22 August 2008 in...

Peru is faced with a decision to export natural gas reserves or to use the gas for future domestic consumption. It may appear that natural reserves left underground has little use, while significant export revenues to be generated from these reserves may boom the country's economy. One should,...

The objective of this study is to identify the key risks facing each of the stakeholders in the export-focused paprika value chain in Zambia. Although a deterministic cost–benefit analysis indicated that this outgrower scheme would have a very satisfactory net present value (NPV), a Monte...

The study evaluates economic and financial returns of the shift from indigenous type of breed to cross-breed dairy cattle for milk production. Ethiopia is characterised by the high cost of cross-breed heifers making the transition for the poor households almost impossible without a support from...

This paper estimates the fiscal burden of the Pay-As-You-Go (PAYGO) civil service pension systems that were closed in 2008 to new members in North Cyprus. At that time, a new pension system was introduced for the newly hired government employees and new private sector workers. Estimates are made...