Ž . This paper investigates the significance of induced technological change ITC for the attractiveness of CO abatement policies. We use analytical and numerical general equilib2 rium models in which technological change results from profit-maximizing investments in R&D. We show that carbon abatement policies have very different impacts on R&D across industries, and do not necessarily raise the...

The rate and magnitude of technological change is a critical component in estimating future anthropogenic carbon emissions. We present a methodology for modeling low-carbon emitting technologies within the MIT Emissions Prediction and Policy Analysis (EPPA) model, a computable general equilibrium (CGE) model of the world economy. The methodology translates bottom-up engineering information for ...

Mircrosimulation (MS) and Computable General Equilibrium models (CGE) have both been widely used in policy analysis. Their combination allows the utilisation of the advantages of both types. The aim of this paper is to describe the state-of-the-art in simulation analysis and to illustrate the benefits and problems of linking micro and macro models by analysing flat tax reform proposals for Germ...

We motivate the formulation of market equilibrium as a mixed complementarity problem which explicitly represents weak inequalities and complementarity between decision variables and equilibrium conditions. The complementarity format permits an energy-economy model to combine technological detail of a bottom-up energy system with a second-best characterization of the overall economy. Our primary...

We analyze price adjustments in the housing market after an exogenous shock. Exploring continuous-time records of prices around a major European airport (ZRH, Switzerland), and an unexpected change in flight regulations induced by the neighboring country Germany, we find that apartment rents take about two years to stabilize to a new equilibrium value. After this period we find a constant marku...

111 We present a computable general equilibrium model of the interface between the Great Salt Lake (GSL) ecosystem and the regional economy that impacts the ecosystem. With respect to the ecosystem, the model treats the various representative species as net-energy maximizers and bases population dynamics on the period-by-period sizes of surplus net energy. Energy markets-where predators and pre...

Examples of phasing macromolecular crystal structures based on single-wavelength anomalous dispersion (SAD) have demonstrated that this approach may have general applications in structural biology. With better data-collection facilities and cryogenic techniques, combined with powerful data-processing, phasing and density-modification programs, the SAD approach may prove simpler than phasing fro...

The consensus in the literature investigating the causes of increased wage inequality in developed nations since 1980 is that skill-biased technical change is responsible for the widening of the wage distribution. A shortcoming in this literature is that technical change is commonly determined residually; that is, those changes in relative wages unexplained by other factors are attributed to ch...

This paper examines the role of external shocks in explaining macroeconomic fluctuations in African countries. We construct a quantitative, stochastic, dynamic, multi-sector equilibrium model of a small open economy calibrated to represent a "typical" African economy. In our framework, external shocks consist of trade shocks, modeled as fluctuations in the prices of exported primary commodities...

This paper considers the macroeconomic implications of a set of empirical studies finding a high degree of dispersion in preference heterogeneity. It develops a model with both uninsurable idiosyncratic income risk and risk aversion heterogeneity to quantify their effects on wealth inequality. The results show that with the available estimates of the risk aversion distribution from PSID data th...