Showing papers in "Journal of Policy Modeling in 1998"

TL;DR: In this article, the authors present the simplest possible general-equilibrium model of an open economy in which producer and consumer decisions are both intra-and intertemporally consistent.

TL;DR: In this article, the authors show that the relationship between the flow of foreign direct investment and the exchange rate is weak and that the significant negative relationship between direct investment inflows and the value of the dollar disappears for important subperiods of the 1973-88 period and for the sample period extended through 1991.

TL;DR: In this article, the macroeconomic effects of limiting China's CO2 emissions by using a time-recursive dynamic computable general equilibrium (CGE) model of the Chinese economy are analyzed.

TL;DR: In this paper, a structural VAR model for each country's public sector that includes besides expenditures and revenues, aggregate income as an additional variable is proposed to check empirically the relationship between government spending and taxation decisions in nine industrialized countries.

TL;DR: In this article, a quantitative assessment of the interdependencies of trade and environment policies is presented, showing that free trade combined with appropriate effluent taxes enhances factor reallocation towards competitive industries, and hence growth, while significantly abating emissions.

TL;DR: In this article, a multisectoral general equilibrium framework with a full specification of financial sector relations is applied to Pakistan to capture the Pakistan economy characterized by commodity and financial market imperfections and structural differences in savings and investment behavior of institutional agents.

TL;DR: In this paper, the hypothesis of a long-run quantifiable relationship between non-oil primary commodity prices and macroeconomic/monetary variables is tested by cointegration technique using quarterly data for 1970q2-93q3.

TL;DR: In this article, a new class of computable general-equilibrium (CGE) models were developed in the context of energy-economy-environmental models to simulate the impacts of the EU economy of internal and multilateral instruments for regulation of greenhouse gases (GHGs) emissions.

TL;DR: In this paper, the authors used an economy-wide model of Zimbabwe and showed that a combined consumption boom, short-run contraction, and growing trade deficit are likely, due to drop of savings and demand switching to foreign goods.

TL;DR: In this article, a general equilibrium framework of the Austrian economy for different supply scenarios is presented to quantify the effects of a further increase in biomass energy supply on the Austrian contribution to climate change.

TL;DR: Using the Feldstein-Horioka savings retention measure, the authors examined capital mobility in every decade from 1865 to 1992 and found that high capital mobility was observed in the classical gold standard period and much lower mobility during the Bretton-woods era.

TL;DR: In this article, the authors developed a simple theoretical model to focus on the debate related to the granting of product patents in the developing countries and discussed conditions under which "sleeping patents" might emerge.

TL;DR: In this paper, the authors present an application of microsimulation to modeling of firm behavior in an economy-wide framework and investigate the response of industrial corporations to investment subsidies in the Netherlands and traces the effects to the macro economic level.

TL;DR: The authors presented a model that admits the possibility and test the theory that foreign aid can induce a government to choose long-term harmful economic policies, but the results of this evaluation show very little significant evidence suggesting this link between foreign aid and distortionary economic policies.

TL;DR: This article examined the relationship between consumer prices in industrial countries and four commodity price indices using a number of econometric techniques and concluded that commodity prices can be used as a leading indicator of inflation although some of the characteristics of an optimal leading indicator are not met.

TL;DR: In this article, a general equilibrium model with a two-tier price system is presented for analyzing reform policies in relation to plan prices and quantities, which captures the income effects generated from divergence between market and plan prices.

TL;DR: In this paper, the authors investigated the economic impact of a coordinated worldwide reduction in military expenditures of 20 percent on developing countries and found that the gains reflected both the release of domestic resources and a positive international economic externality due to enhanced trade and lower world interest rates.

TL;DR: In this paper, a methodology for identifying electoral and partisan cycle regularities in target variables and policy instruments is presented, where the authors examine the time series employed for the presence of a unit root in their individual autoregressive representations, and derive the growth component and construct the cycle component of each time series.

TL;DR: In this paper, the authors examined the effectiveness of various economic policies adopted to deal with the depression by simulating a computable general equilibrium (CGE) model of the 1930s in Australia, focusing on the relative importance of the exchange rate devaluation, the protection policy, the government demand expansion and the wage policy.

TL;DR: The authors incorporated immigration policy into a model of the immigration decision and considered its interaction with relative economic conditions in determining the characteristics of successful immigrants, and found that immigration is the only component of labor market and population growth over which policymakers have direct control.

TL;DR: In this article, the authors propose a new concept of convergence based on the notion of codependence introduced by Gourieroux and Peaucelle (1989), which does not reject the hypothesis that some degree of the erosion of the credibility for some currencies during the period of the new EMS may be due to the emergence of real divergences with Germany.

TL;DR: In this paper, the authors examine some of the ways that the market responds to housing externalities, focusing especially on multi-unit, low income housing, and develop a theoretical model of a household's choice among private rental housing, public housing and limited equity cooperative housing.

TL;DR: The search for rent-seeking opportunities in democracy harms growth and may lead to political turbulence, thereby opening the way to the bureaucratic nomenclature or to totalitarian rule as discussed by the authors.

TL;DR: In this paper, the authors developed a forecasting model for the Aid to Families with Dependent Children (AFDC) caseload based on economic theory and the use of leading indicator analysis.

TL;DR: In this article, the authors add the transformation process to the multisectoral computable general equilibrium model of the open economy, where the transformation pressure, in order to remain in a continuous state of full employment, is derived from the domestic operation surplus ratio.

TL;DR: In this article, the effects of Japanese foreign direct investment (FDI) on the balance of payment were analyzed. But the model was limited to a single country, and it did not consider the effect of Japanese FDI on other countries.

TL;DR: This paper analyzed exchange rate returns for five currencies (Danish krone, Dutch guilder, French franc, Swiss franc, and U.S. dollar) based on the Student's t autoregressive model with dynamic heteroskedasticity.

TL;DR: In this paper, a general framework for policy evaluation based on fuzzy logic is provided to assess the degree to which each goal is attained, to evaluate the performance of different countries, and to determine the overall progress of the EU in meeting the Maastricht criteria.

TL;DR: In this paper, the authors analyzed investment-promoting policies in a small open economy by means of a dynamic applied general equilibrium model with overlapping generations and showed that the subsidy policy is preferred to the profit tax policy when a small-scale open economy seeks to stimulate capital formation.