We present a general equilibrium model of the new neoclassical synthesis that has the same level of generality as the Arrow-Debreu model. This involves a stochastic multi-period economy with a ...

A new article in the Journal of Financial Stability by Professor Julio Dávila (Nazarbayev University) and Dr. Elizaveta Lukmanova (Central Bank of ...

In 1985-86 the authors were members of a team that constructed a static applied general equilibrium model that was used to analyze the impact on the Spanish economy of the 1986 fiscal reform, which ...

Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation This paper develops a structural macroeconometric model of the world economy, disaggregated into forty national economies.

Traditional applied general-equilibrium (AGE) models have always faced trade-offs between analytical and computational tractability and counter-empirical restrictions. One is the assumption of ...

In addition to working papers, the NBER disseminates affiliates’ latest findings through a range of free periodicals — the NBER Reporter, the NBER Digest, the Bulletin on Health, and the Bulletin on ...

I have observed and appreciated Olivier Blanchard’s intellectual journey over the last decade. It began in August 2008, with what must be regarded as one of the worst-timed papers in the history of ...

Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation This paper jointly analyzes the optimal conduct of monetary policy, foreign exchange intervention, fiscal policy, ...

China introduced the world's largest emissions trading system in 2021 which is intended to help cost-effectively achieve its pledges of reaching a peak in CO2 emissions before 2030 and carbon ...