We analyse welfare effects of supporting general versus emission saving technological development when carbon emissions are regulated by a carbon tax. We use a computable general equilibrium model with induced technological change (ITC). ITC is driven by two separate, economically motivated research and development (R&D) activities, one general and one emission saving specified as carbon captur...

The use of XML as a vendor, implementation and operating system neutral means of describing system events and system management policies is described. The need for handling heterogeneity in emerging distributed systems by management solutions and the utility of XML in this regard is discussed. The design and architecture of a prototype implementation of a XML based policy-driven information ser...

This paper considers a macroeconomic model with rational expectations in which prices are incompletely flexible. Markets therefore fail to clear. In such a model monetary policy is not neutral. The variance of real and nominal quantities and interest rates is sensitive to the parameters of the feedback rule that determines the money supply. The monetary policy that achieves the goat of minimizi...

This paper studies an infinite-horizon adverse selection model with an underlying Markov information process and a risk-neutral agent. It introduces a graphic representation of continuation contracts and continuation-payoff frontiers, namely finite policy graphs, and provides an algorithm that generates a sequence of such graphs to approximate the optimal policy graph. The algorithm performs an...

The paper examines welfare improving and revenue neutral directions marginal policy reforms for an economy with nonidentical individuals and an externality that has a feedback effect on the consumption of taxed goods. It considers three types of policy instruments: the indirect taxes, the uniform poll transfer and public abatement. This extends the framework set up by Ahmad and Stern (1984), Bo...

We use the concept of time-consistent coherent risk measure to study a risk-averse firm’s inventory and price control activities. The model calls for worst-case analysis over a convex set of demand-distribution scenarios in every period. Structural characterization for an optimal inventory policy reminiscent of the risk-neutral counterpart is easy to achieve. More interestingly, mild monotone p...

Do carbon taxes kill jobs? With pricing at $30/tonne of carbon dioxide equivalent emissions, the BC policy is currently the most aggressive revenue-neutral carbon tax and serves as a role model for many jurisdictions world-wide. There are concerns, however, that this policy negatively impacts employment. This study uses firm-level synthetic control methods (SCM) to estimate employment effects o...

This paper examines the impact of government policy on the allocation of aggregate risks in a stochastic OG model with production. The market allocation of risk depends significantly on the young generation’s willingness to substitute intertemporally and on government policy. Safe government debt shifts productivity risk from old to young while wageindexed social security is essentially neutral...

We present the Simple Unified Policy Programming Language (Suppl), a domain-neutral language for stating, executing, and analyzing event-condition-action policies. Suppl uses a novel combination of pure logic programming and disciplined imperative programming features to make it easy for non-expert users to express common policy idioms. The language is strongly typed and moded to allow static d...

The regulated price policy may be implemented for some products. It is generally implemented for some products such as electricity, natural gas, water and so on that are supplied as monopolist. The regulated price shock on these products may lead to an adjustment in the endowments of primary factors. The aim of this paper is to investigate the effects of a regulated price shock on price indices...