The purpose of this research is to provide an approximation to the likely effects of the crisis on the Colombian economy and to the effectiveness of policy response. For this, the most relevant transmission channels and policy measures are simulated in the setting of a static computable general...

We obtain a recursive formulation for a general class of contracting problems involving incentive constraints. These constraints make the corresponding maximization sup problems non-recursive. Our approach consists of studying a recursive Lagrangian. Under standard general conditions, there is a...

Recent analyses of the possible adverse effects of climate change and policy responses on agriculture and mining have raised food and energy security concerns in both rich and poorer countries. Analysing possible effects of ways of dealing with those concerns requires first projecting the world...

Recent analyses of the possible adverse effects of climate change on agriculture in developing countries have raised food security concerns, especially for farm households who comprise most of the worldÂ’s poor and whose crop productivity is expected to fall. The present study uses a global...

The economic literature has been investigating the positive relation between public infrastructure spending and the productivity of the private sector since Munnell (1992). We have thus introduced this relation into the recursive dynamic computable general equilibrium model of Quebec to assess...

A biofuels race has been observed around the world with rising cost of oil and the increasing concerns over climate change. Unfortunately, this growth is associated with rising food prices, which is a major concern in developing countries like Mali. The development of biofuels in Mali should...

Der Beitrag untersucht unterschiedliche Ansätze zur Vermeidung von Armut im Alter. Kenn-zeichen der ausgewählten Ansätze ist eine Grundsicherung im Alter. Zwei Optionen werden betrachtet: (a) eine steuerfinanzierte Grundsicherung in Ergänzung zur gesetzlichen, im Um-lageverfahren...

We reformulate the Smets-Wouters (2007) framework by embedding the theory of unemployment proposed in Galí (2011a,b). We estimate the resulting model using postwar U.S. data, while treating the unemployment rate as an additional observable variable. Our approach overcomes the lack of...

As in other Latin American countries, labor informality in Uruguay mainly affects less educated workers, who are also more vulnerable to poverty. We analyze the impact of some policies against informality in Uruguay, applying a general equilibrium model with a segmented labor market...

This study introduces a framework for modeling a renewable forest biomass stock interacting with economic sectors in a competitive economy. The equilibrium is formulated as a mixed complementary problem (which explicitly represents weak inequalities and complementary among decision variables and...