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This paper reports a computable general equilibrium analysis that explores the consequences of the 1994-1995 increase in the international price of coffee for Uganda's economy. Evidence is found for a small effect on both medium-term growth and poverty reduction. Aid dependence is among the...
Persistent link: https://www.econbiz.de/10014183126
In the vast majority of recursive dynamic CGE models, the savings rate is constant and exogenous. Intertemporal CGE models, by contrast, are solved simultaneously for all periods, and agents optimize intertemporally. But the theoretical consistency of intertemporal optimization is achieved only...
Persistent link: https://www.econbiz.de/10013050223
To explain economic impacts of flood damage due to climate change over time in Japan, this study develops a dynamic spatial computable general equilibrium model, and measures flood damage costs through some numerical experiments. It is inferred that the frequency and the intensity of flood are...
Persistent link: https://www.econbiz.de/10011493009
This paper contributes to the normative literature on mitigation and adaptation by framing the question of their … absence of a coordinated global agreement on climate change and to realign the policy balance from adaptation toward more … mitigation. Our analysis also shows that adaptation transfers from and strategic unilateral commitments to adaptation in …
Persistent link: https://www.econbiz.de/10010476445
We explicitly solve for the aggregate asset pricing quantities of a general equilibrium Lucas endowment economy inhabited by two agents with habit formation preferences. Preferences are modeled either as internal or external habits. We allow for agents' heterogeneity in relative risk aversion...
Persistent link: https://www.econbiz.de/10013113260
We study the asset pricing implications of a general equilibrium Lucas endowment economy inhabited by two agents with habit formation preferences. Preferences are modeled either as internal or external habits. We allow for agents' heterogeneity in relative risk aversion and habit strength. We...
Persistent link: https://www.econbiz.de/10013108737
We explicitly solve for the aggregate asset prices in a general equilibrium Lucas endowment economy with two agents who are heterogeneous in their time-nonseparable preferences. Time-nonseparability is modeled either as internal or external habit preferences. Equilibrium quantities -- equity...
Persistent link: https://www.econbiz.de/10013090816
The theoretical literature presumes generational risk is large enough to merit study and that such risk can be meaningfully shared via appropriate government policy. This paper questions these propositions. It develops an 80-period OLG model to directly measure generational risk and the extent...
Persistent link: https://www.econbiz.de/10012953195
The theoretical literature presumes generational risk is large enough to merit study and that such risk can be meaningfully shared via appropriate government policies. This paper assesses these propositions. It develops a computational technique to overcome the curse of dimensionality and...
Persistent link: https://www.econbiz.de/10012970384
We explicitly solve for the aggregate asset prices in a discrete-time general-equilibrium endowment economy with two agents who differ with respect to their preferences for risk aversion and sensitivity to habit, either internal or external. We compute equilibrium quantities -- equity premium,...
Persistent link: https://www.econbiz.de/10012974985