The purpose of this study is to analyse the dynamic response of a set of euro area macroeconomic variables to monetary policy and technology shocks. We do so by conducting simulations on three different models of the euro area. The first modelling approach corresponds to structural VAR models (SVAR), the second approach uses the NiGEM multi-country model developed by the National Institute of E...

Within the non-stochastic dynamic general equilibrium model framework this paper examines the implications of alternative fiscal consolidation programs for small open economy. The calibrated model enables realistically quantify the impact of the deficit financing and fiscal consolidation on consumption and saving of households, investment of firms and thereby on the capital stock and real inter...

A stochastic SIR epidemic dynamic model with distributed-time-delay, for a two-scale dynamic population is derived. The distributed time delay is the varying naturally acquired immunity period of the removal class of individuals who have recovered from the infection, and have acquired natural immunity to the disease. We investigate the stochastic asymptotic stability of the disease free equilib...

This paper suggests a probability-dominant user equilibrium (PdUE) model to describe the selfish routing equilibrium in a stochastic traffic network. At PdUE, travel demands are only assigned to the most dominant routes in the same origin-destination pair. A probability-dominant rerouting dynamic model is proposed to explain the behavioral mechanism of PdUE. To facilitate applications, the logi...

We explore the structural drivers of bank and nonbank credit cycles using a medium-scale dynamic stochastic general equilibrium (DSGE) model with two types financial intermediation. posit economywide sectoral disturbances in both macro sectors. estimate that shocks to balance sheets entrepreneurs are important for fluctuations growth at business cycle frequency. Economywide entrepreneurial risk...

time-history analysis is defined as a kind of dynamic analysis increasingly used in design of structures and evaluation of existing ones. one of the important issues in the time-history analysis is selecting earthquake records. in this case, seismic design provisions states that time histories shall have similar source mechanisms, geological and seismological features with region under study. a...

The objective of this work is to investigate market power issues in bid-based hydrothermal scheduling. Initially, market power was simulated with a single stage Cournot–Nash equilibrium model. In this static model the equilibrium was calculated analytically. It was shown that the total production of N strategic agents is smaller than the least-cost solution by a factor of (N/(N +1)). Market pow...

We prove existence of time consistent equilibria in a class dynamic models with recursive payoffs and generalized discounting involving both behavioral normative applications. Our Bellman equation method identifies separates both: strategic aspects the equilibrium problem allows to determine sufficient assumptions on preferences stochastic transition establish existence. In particular we show m...

Economic policies aimed at managing economic variables in the short and long term have always been of special importance. These seek to reduce fluctuations increase sustainable growth term. One these is monetary policy, which mainly carried out by central banks worldwide. This paper uses Keynesian Dynamic Stochastic General Equilibrium (DSGE) model examine effects policy on real Iranian economy...