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An Overlapping Generations Computable General Equilibrium Olg Cge Model With Age Variable Rate Of Time Preference
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Book Synopsis An Overlapping Generations Computable General Equilibrium (OLG-CGE) Model with Age-variable Rate of Time Preference by : Patrick Georges
Download or read book An Overlapping Generations Computable General Equilibrium (OLG-CGE) Model with Age-variable Rate of Time Preference written by Patrick Georges and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Essays on Modeling Aging Population by : Somaieh Nikpoor
Download or read book Three Essays on Modeling Aging Population written by Somaieh Nikpoor and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter 1: Interregional Transfers through Public Pension in Canada- In this chapter, I build a regional computable general equilibrium model with an overlapping generations (OLG) structure of the Canadian economy to analyze population aging dynamics and public pensions. Canada is divided into three regions: Atlantic, Quebec and Rest of Canada (ROC). The impact of population aging is investigated on each of three regions' pension systems. The results confirm that as a result of aging all regions are affected negatively if they choose to have an independent pension system. Under a joint pension system most of the pressure of the provision of the pension system is on the ROC. Atlantic region benefits the most from a joint pension plan as the implicit funds ow from ROC to Atlantic region. Quebec benefits from having its own program, but the benefits disappear slowly in future years. Chapter 2: Age-Variable Rate of Time Preference in CGE-OLG Model- Contrary to the mainstream studies in the area of intertemporal optimization that assume a constant rate of time preference over individuals' life cycles, in this chapter I propose a new approach to measure the rate of time preference by assuming that the rate of time preference evolves by age. I construct an overlapping generations model (OLG) and calibrate rate of time preference. The age-variable rate of time preference would permit to capture many other elements that affect the life cycle profile of consumption as observed in the data. The results show that rate of time preference exhibits three phases and is different for young versus old. Chapter 3: Computing Demographic Change Simulation under Constant and Age-variable Rate of Time Preference - This chapter simulates the impact of an aging population on various macroeconomic variables and calculates the cohort welfare as well as social welfare. The outcomes from simulations are dependent on the choice of rate of time preference as well as the structure of the model. The results in this chapter provide a new approach to determining the impact of aging population. The choice of a realistic rate of time preference, which allows its variability by age, affects the cohort welfare noticeably.
Book Synopsis Overlapping Generations Models of General Equilibrium by : John Geanakoplos
Download or read book Overlapping Generations Models of General Equilibrium written by John Geanakoplos and published by . This book was released on 2008 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: The OLG model of Allais and Samuelson retains the methodological assumptions of agent optimization and market clearing from the Arrow-Debreu model, yet its equilibrium set has different properties: Pareto inefficiency, indeterminacy, positive valuation of money, and a golden rule equilibrium in which the rate of interest is equal to population growth (independent of impatience). These properties are shown to derive not from market incompleteness, but from lack of market clearing quot;at infinity;quot; they can be eliminated with land or uniform impatience. The OLG model is used to analyze bubbles, social security, demographic effects on stock returns, the foundations of monetary theory, Keynesian vs. real business cycle macromodels, and classical vs. neoclassical disputes.
Book Synopsis A Standard Computable General Equilibrium (CGE) Model in GAMS by : Hans Löfgren
Download or read book A Standard Computable General Equilibrium (CGE) Model in GAMS written by Hans Löfgren and published by . This book was released on 2001 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Handbook of Computable General Equilibrium Modeling by : Peter B. Dixon
Download or read book Handbook of Computable General Equilibrium Modeling written by Peter B. Dixon and published by Newnes. This book was released on 2013-11-14 with total page 1143 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this collection of 17 articles, top scholars synthesize and analyze scholarship on this widely used tool of policy analysis, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top US graduate schools, it is employed universally in the development of economic policy. This collection is particularly important because it presents a history of modeling applications and examines competing points of view. Presents coherent summaries of CGE theories that inform major model types Covers the construction of CGE databases, model solving, and computer-assisted interpretation of results Shows how CGE modeling has made a contribution to economic policy
Book Synopsis Generational Policy by : Laurence J. Kotlikoff
Download or read book Generational Policy written by Laurence J. Kotlikoff and published by MIT Press. This book was released on 2003-11-07 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: How generational policy affects the sustainability of a government's fiscal policy. In these eight 2002 Cairoli Lectures, presented at the Universidad Torcuato di Tella in Buenos Aires, Argentina, Laurence Kotlikoff shows how generational policy works, how it is measured, and how much it matters. Kotlikoff discusses the incidence and measurement of generational policy, the relationship of generational policy to monetary policy, and the vacuity of deficits, taxes, and transfer payments as economic measures of fiscal policy. Kotlikoff also illustrates generational policy's general equilibrium effects with a dynamic life-cycle simulation model and reviews the empirical evidence testing intergenerational altruism and risk sharing. The lectures were delivered as Argentina faced a devastating depression triggered, in large part, by unsustainable generational policy. Throughout the book, Kotlikoff connects his messages about generational policy to the Argentine situation and the Argentine government's policy mistakes.
Book Synopsis Dynamic General Equilibrium Modeling by : Burkhard Heer
Download or read book Dynamic General Equilibrium Modeling written by Burkhard Heer and published by Springer Science & Business Media. This book was released on 2009-08-12 with total page 720 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern business cycle theory and growth theory uses stochastic dynamic general equilibrium models. In order to solve these models, economists need to use many mathematical tools. This book presents various methods in order to compute the dynamics of general equilibrium models. In part I, the representative-agent stochastic growth model is solved with the help of value function iteration, linear and linear quadratic approximation methods, parameterised expectations and projection methods. In order to apply these methods, fundamentals from numerical analysis are reviewed in detail. In particular, the book discusses issues that are often neglected in existing work on computational methods, e.g. how to find a good initial value. In part II, the authors discuss methods in order to solve heterogeneous-agent economies. In such economies, the distribution of the individual state variables is endogenous. This part of the book also serves as an introduction to the modern theory of distribution economics. Applications include the dynamics of the income distribution over the business cycle or the overlapping-generations model. In an accompanying home page to this book, computer codes to all applications can be downloaded.
Book Synopsis Introduction to Computable General Equilibrium Models by : Mary E. Burfisher
Download or read book Introduction to Computable General Equilibrium Models written by Mary E. Burfisher and published by Cambridge University Press. This book was released on 2016 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides a hands-on introduction to computable general equilibrium (CGE) models, written at an accessible, undergraduate level.
Book Synopsis The Oxford Handbook of Computational Economics and Finance by : Shu-Heng Chen
Download or read book The Oxford Handbook of Computational Economics and Finance written by Shu-Heng Chen and published by Oxford University Press. This book was released on 2018-01-12 with total page 785 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Oxford Handbook of Computational Economics and Finance provides a survey of both the foundations of and recent advances in the frontiers of analysis and action. It is both historically and interdisciplinarily rich and also tightly connected to the rise of digital society. It begins with the conventional view of computational economics, including recent algorithmic development in computing rational expectations, volatility, and general equilibrium. It then moves from traditional computing in economics and finance to recent developments in natural computing, including applications of nature-inspired intelligence, genetic programming, swarm intelligence, and fuzzy logic. Also examined are recent developments of network and agent-based computing in economics. How these approaches are applied is examined in chapters on such subjects as trading robots and automated markets. The last part deals with the epistemology of simulation in its trinity form with the integration of simulation, computation, and dynamics. Distinctive is the focus on natural computationalism and the examination of the implications of intelligent machines for the future of computational economics and finance. Not merely individual robots, but whole integrated systems are extending their "immigration" to the world of Homo sapiens, or symbiogenesis.
Download or read book GAMMA written by Alex Armstrong and published by . This book was released on 2007 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pension Reform written by Robert Holzmann and published by World Bank Publications. This book was released on 2006 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents 25 state of the art papers on the conceptual foundations and issues surrounding Non-financial, or Notional, Defined Contribution (NDC), country implementation of NDC (Italy, Latvia, Poland, and Sweden) and case studies for countries where NDC is figured in the reform debate. This book is intended to be a handbook for academics and policy makers who want to become informed about what NDC is and to learn about the pros and cons of this attractive reform proposal.
Book Synopsis Handbook of the Economics of Population Aging by : John Piggott
Download or read book Handbook of the Economics of Population Aging written by John Piggott and published by Elsevier. This book was released on 2016-11-21 with total page 1146 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of the Economics of Population Aging synthesizes the economic literature on aging and the subjects associated with it, including social insurance and healthcare costs, both of which are of interest to policymakers and academics. These volumes, the first of a new subseries in the Handbooks in Economics, describe and analyze scholarship created since the inception of serious attention began in the late 1970s, including information from general economics journals, from various field journals in economics, especially, but not exclusively, those covering labor markets and human resource issues, from interdisciplinary social science and life science journals, and from papers by economists published in journals associated with gerontology, history, sociology, political science, and demography, amongst others. Dissolves the barriers between policymakers and scholars by presenting comprehensive portraits of social and theoretical issues Synthesizes valuable data on the topic from a variety of journals dating back to the late 1970s in a convenient, comprehensive resource Presents diverse perspectives on subjects that can be closely associated with national and regional concerns Offers comprehensive, critical reviews and expositions of the essential aspects of the economics of population aging
Book Synopsis Sustainability Impact Assessment of Land Use Changes by : Katharina Helming
Download or read book Sustainability Impact Assessment of Land Use Changes written by Katharina Helming and published by Springer Science & Business Media. This book was released on 2008-06-11 with total page 502 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are many reasons why strategic intelligence is required to support policy decisions. These primarily stem from the nature of today's kno- edge society with two contrasting trends. On the one hand, there is a trend of increasing human intelligence in the economic, social and political s- tems. On the other hand, there is a trend towards dissolving certainties about the problems and solutions of today's society. Clearly, more inf- mation does not necessary imply more certainties on how to act. What is more, the same facts are often interpreted in markedly different ways: the same policy relevant information can – and often does – results in confli- ing framing of a problem by different stakeholders. This is mainly due to competing assumptions, rather then because of inconsistent facts. The- fore, it is not surprising that policy-makers are calling for strategic intel- gence to support their understanding of today's challenges, including the relevant aspects of science and technology, their impact and their possible future developments. Over the last 15 years, Europe has rapidly adopted the practice of dev- oping and using Impact Assessment (IA) tools to support decision-making. Formal procedures and guidance for IA are well established within the European Commission and in most EU Member States. The adoption of IA procedures alone, however, does not guarantee that every policy domain is actually using the full potential of these assessment tools in the preparation of policies and legislation.
Book Synopsis The Economic Consequences of Outdoor Air Pollution by : OECD
Download or read book The Economic Consequences of Outdoor Air Pollution written by OECD and published by OECD Publishing. This book was released on 2016-06-09 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report provides a comprehensive assessment of the economic consequences of outdoor air pollution in the coming decades, focusing on the impacts on mortality, morbidity, and changes in crop yields as caused by high concentrations of pollutants.
Book Synopsis Routledge Dictionary of Economics by : Donald Rutherford
Download or read book Routledge Dictionary of Economics written by Donald Rutherford and published by Routledge. This book was released on 2013-06-26 with total page 737 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Routledge Dictionary of Economics, now in its third edition, provides the clearest, most authoritative definition of economic and financial terms available. The book is perfect for students and professionals interested in a broad range of disciplines including Business, Economics, Finance, and Accountancy and all additional subjects where a knowledge of these fields of essential. The dictionary has been updated to reflect the economic changes of the new Millennium including the emergence of experimental and behavioural economics, new political economy, the importance of institutions, globalization, environmental economics, financial crises and the economic emergence of China and India. It’s an international dictionary that includes succinctly explained A to Z entries and definitive explanations of the key terms, accompanied by a short bibliography and comprising supplementary online definitions. In a world where the reader is met with a barrage of conflicting and competing information, this book continues to provide a definitive guide to economics.
Book Synopsis Fiscal Policies for Development and Climate Action by : Miria A. Pigato
Download or read book Fiscal Policies for Development and Climate Action written by Miria A. Pigato and published by World Bank Publications. This book was released on 2018-12-31 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report provides actionable advice on how to design and implement fiscal policies for both development and climate action. Building on more than two decades of research in development and environmental economics, it argues that well-designed environmental tax reforms are especially valuable in developing countries, where they can reduce emissions, increase domestic revenues, and generate positive welfare effects such as cleaner water, safer roads, and improvements in human health. Moreover, these reforms need not harm competitiveness. New empirical evidence from Indonesia and Mexico suggests that under certain conditions, raising fuel prices can actually increase firm productivity. Finally, the report discusses the role of fiscal policy in strengthening resilience to climate change. It provides evidence that preventive public investments and measures to build fiscal buffers can help safeguard stability and growth in the face of rising climate risks. In this way, environmental tax reforms and climate risk-management strategies can lay the much-needed fiscal foundation for development and climate action.
Author :International Monetary Fund. Research Dept. Publisher :International Monetary Fund ISBN 13 :1451956770 Total Pages :228 pages Book Rating :4.4/5 (519 download)
Book Synopsis IMF Staff papers by : International Monetary Fund. Research Dept.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1988-01-01 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: A central proposition regarding effects of different mechanisms of fi-nancing public expenditures is that, under specific circumstances, it makes no difference to the level of aggregate demand if the government finances its outlays by debt or taxation. This so-called Ricardian equivalence states that, for a given expenditure path, substitution of debt for taxes does not affect private sector wealth and consumption. This paper provides a model illustrating the implications of Ricardian equivalence, surveys the litera-ture, considers effects of relaxing the basic assumptions, provides a frame-work to study implications of various extensions, and critically reviews recent empirical work on Ricardian equivalence.
