The first is based upon the seminal work of Nobel Prize winner Larry Klein in his 1947 paper. This has two basic components. First, an essentially Keynesian system of macro-theoretical relationships. Second, fitting curves (planes) through empirical macrodata using econometric (statistical) techniques to estimate parameters for these theoretical relationships. Over the past 60 years, the models...

We study tax and regulatory policy in the legal marijuana market using unique administrative data from Washington state. Washington's retail entry restrictions have resulted firms with substantial power who behave like local monopolists. show how presence of causes recommendations to differ standard models that assume perfect competition. Combining structural demand measured pass-through, we is...

one of the economic problems in the developing countries is the debt problem. external debt occurs in the developing countries due to the elimination of the restrictions on the savings gap, the foreign exchange gap, and the fiscal gap in order to form the capital to accelerate the economic growth (karakoy et al., 2012, p. 491). in contrast, borrowing and rising the external debt could be little...

A reduction in capital tax rates generates substantial dynamic responses within the framework of standard neoclassical growth model. The short-run revenue loss after a cut is partly — or, depending on parameter values, even completely offset by long-run, due to resulting incentives further accumulate capital. We study how response government changes if we allow Ramsey economy engage internation...