Comparative analysis of economic structure and forecasts generated from simultaneous equation, VAR and autoregressive models based on quarterly series from 1966:1 to 2007:3 of UK to those from the stochastic general equilibrium models has provided insights into objective and subjective...

Shortly before the national elections in the Netherlands, the Netherlands Bureau for Economic Policy Analysis (CPB) evaluates the economic effects of the policy proposals in election programs. This paper investigates the sensitivity of this analysis to the uncertainty of parameter estimates in...

International trade negotiations have recently tackled the issue of possible free trade restrictions, justified - among others - on the basis of environmental concerns. Also, some analyses of international environmental agreements (especially in the field of climate change) have highlighted the...

We develop methods to solve general equilibrium models in which forward-looking agents are subject to waves of pessimism, optimism, and uncertainty that turn out to critically affect macroeconomic outcomes. Agents in the model are fully rational, conduct Bayesian learning, and they know that...

In this paper we present a novel approach to the empirical validation of the intertemporal approach to the current account. We develop a calibrated model highlighting the role of consumption smoothing and capital accumulation in the economic convergence process. After solving the model, we...

The various assessments of the effects of a liberalization of world sugar markets are inconsistent with each other. One cause seems to be the modeling of the EU supply response. We investigate three possible linkages between sugar production under quota and the out-of-quota or "C" sugar supply:...

The various assessments of the effects of a liberalization of world sugar markets are largely inconsistent. One cause seems to be the modeling of the EU supply response. We investigate three possible linkages between production quota sugar and the out-of-quota or "C" sugar supply: i/ the...

The objective of this study is to provide monetary estimates of the impacts of climate change inEuropean agricultural sector. The future scenarios incorporate socio-economic projectionsderived from several socio-economic scenarios and experiments conducted using global climatemodels and regional...

Incluye bibliografía ; This paper presents a dynamic general equilibrium model designed to compute the aggregate impact of immigration, accounting for relevant supply and demand effects. We calibrate the model to the Spanish economy, allowing for enough heterogeneity in the demographic...