This article analyzes the transition dynamics, what Hicks called the traverse, from one equilibrium toward another one—and the conditions for such a transfer—in a bi-sectoral economy under technological shocks.
In this paper, we estimate for the first time how production and emissions of manufacturing firms in one country respond to foreign demand shocks in trading partner markets.
We introduce a theoretical framework for the analysis of competition between a traditional and a renewable generator in a spot electricity market where the electricity from renewable sources is always the first to be dispatched.
How could the burden of GHG emission reduction be shared among countries? The article address this arguably basic question by purely statistical methods that do not rely on any normative judgment about the criteria according to which it should be answered.
The goal of this paper is to propose and test stochastic differential equations for Goodwin’s model and one of its extension by using an estimation technique based on simulated maximum likelihood developed by Durham and Gallant (2002)
The article studies the 1978 macroeconomics conference titled “After the Phillips Curve”, where Lucas and Sargent presented their fierce attack against structural macroeconometric models, “After Keynesian Macroeconomics”. It aims at enlarging the comprehension of changes in macroeconomics in the 1970s.
Keroboto B. Z. Ogutu , Fabio D’Andrea, Michael Ghil
This study uses the global climate–economy–biosphere (CoCEB) model formulated in Part 1 to investigate economic aspects of deforestation control and carbon sequestration in forests, as well as the efficiency of carbon capture and storage (CCS) technologies as policy measures for climate change mitigation.
We consider the problem of stopping a diffusion process with a payoff functional involving probability distortion. We study stopping decisions of naïve agents who reoptimize continuously in time, as well as equilibrium strategies of sophisticated agents who anticipate but lack control over their future selves’ behaviors.
