Budget balancing in a two-dimensional macroeconomic model

Balanced-budget rules and macroeconomic (in)stability

It has been shown that under perfect competition and constant returns-to-scale, a onesector real business cycle model may exhibit indeterminacy and sunspots when income tax rates are determined by a balanced-budget rule with a pre-set level of government expenditures. This paper shows that indeterminacy disappears if the government finances endogenous public spending and transfers with fixed in...

A New Two Dimensional Model for Pollutant Transport in Ajichai River

Accurate prediction of pollution control and environmental protection need a good understanding of pollutant dynamics. Numerical model techniques are important apparatus in this research area. So a 2500 line FORTRAN 95 version code was conducted in which using approximate Riemann solver, couples the shallow water and pollution transport agents in two dimensions by the aid of unstructured meshes...

Investigate the Effects of Public Expenditure on Macroeconomic Variables under a Balanced Budget Rule in Iran: a DSGE Approach

Macroeconomic Impacts of Export Barriers in a Dynamic CGE Model

A large economic literature discusses the implications of export sanctions for a variety of states around the world. This paper investigates the macro-level consequences of imposing oil export barriers on an oil exporting country. We employ a large real financial computable general equilibrium for Iran. The model is calibrated based on 1999 Social Accounting Matrix for the economy of Iran inc...

Intertemporal Budget Policies and Macroeconomic Adjustment in Indebted Open Economies

We analyze the role of government intertemporal budget policies in a growing open economy including nominal assets in the presence of an upward sloping supply of debt. This introduces transitional dynamics that influence the effects of government policy instruments on the long term fiscal liability. In particular, shifts in capital income taxes can lead to dynamic scoring effects through the ev...