scholarly journals Climate Change Feedback on Economic Growth: Explorations with a Dynamic General Equilibrium Model

2010 ◽  
Author(s):  
Fabio Eboli ◽  
Ramiro Parrado ◽  
Roberto Roson
Keyword(s):  
Climate Change ◽  
Economic Growth ◽  
General Equilibrium ◽  
Equilibrium Model ◽  
Dynamic General Equilibrium ◽  
General Equilibrium Model ◽  
Dynamic General Equilibrium Model

scholarly journals Phased-In Tax Cuts and Economic Activity

2006 ◽  
Vol 96 (5) ◽  
pp. 1835-1849 ◽  
Author(s):  
Christopher L House ◽  
Matthew D Shapiro
Keyword(s):  
Economic Growth ◽  
General Equilibrium ◽  
Equilibrium Model ◽  
Economic Activity ◽  
Dynamic General Equilibrium ◽  
General Equilibrium Model ◽  
Slow Recovery ◽  
Tax Rate ◽  
Dynamic General Equilibrium Model ◽  
Aggregate Effects

This paper uses a dynamic general equilibrium model to analyze and quantify the aggregate effects of the timing of tax rate changes enacted in 2001 (which called for successive rate reductions through 2006) and 2003 (which made immediate tax rate cuts scheduled for 2004 and 2006). The phased-in nature contributed to the slow recovery from the 2001 recession, while the elimination of the phase-in helped explain the increase in economic activity in 2003. The simulations suggest while the tax policy was a drag on the economy in 2001 and 2002, it increased economic growth in 2003, once phase-ins were eliminated.

Risk Shocks

2014 ◽  
Vol 104 (1) ◽  
pp. 27-65 ◽  
Author(s):  
Lawrence J. Christiano ◽  
Roberto Motto ◽  
Massimo Rostagno
Keyword(s):  
Business Cycle ◽  
General Equilibrium ◽  
Equilibrium Model ◽  
Dynamic General Equilibrium ◽  
General Equilibrium Model ◽  
Cross Sectional ◽  
Dynamic General Equilibrium Model ◽  
The Business Cycle ◽  
Idiosyncratic Uncertainty ◽  
Over Time

We augment a standard monetary dynamic general equilibrium model to include a Bernanke-Gertler-Gilchrist financial accelerator mechanism. We fit the model to US data, allowing the volatility of cross-sectional idiosyncratic uncertainty to fluctuate over time. We refer to this measure of volatility as risk. We find that fluctuations in risk are the most important shock driving the business cycle. (JEL D81, D82, E32, E44, L26)

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