Price changes and output growth, both at the aggregate and the sectoral level, appear to be negatively correlated. At a basic level, this suggests that sectoral “supply” shocks are more prevalent than sectoral “demand” shocks. However, it is not clear what these sectoral price-output correlations mean once one thinks in terms of general equilibrium. To help us understand the implication of thes...

This paper attempts to ascertain if skill-biased technologies developed in R&D-active countries diffuse to the rest of the world. First, using a model of international trade, I show the effects of skill-bias knowledge diffusion. The theory suggests that skill-biased technological diffusion need not increase skill premia, as sectoral biases can exert countervailing forces. Second, I test implica...

9.2.1 Impacts from Multisectoral Studies ................................................................................................................6 9.2.1.1 Effects of Carbon Taxes and Auctioned Emission Permits ............................................................................ 6 9.2.1.2 Reducing Subsidies in the Energy Sector........................................................

We test for long term dependence in U.S. stock returns, analyzing composite and sectoral stock indices and firms' returns series to evaluate aggregation effects. Fractal dynamics are not detected in stock indices, but are present in some firms’ returns series.

This paper estimates the effects of increase in Iran’s non-oil exports on its economic growth as well as sectoral outputs, using a single country, comparative static, exogenous policy Computable General Equilibrium (CGE) model. The paper also investigates the share of tradable sectors in reaching to the targeted growth rate (8%) in 5th socio-economic development plan. For this purpose, the para...

Many studies analyzed in depth how aging affects aggregate economic performance. But analyses of these effects on the employment structure are scarce and they do not consider that consumption patterns, the supply of goods and services, and also sectoral labor productivity are all likely to adjust to aging and will change. Hence, regression analysis of sectoral employment shares is proposed that...

The issue of integrated care and inter-sectoral collaboration is on the health policy agenda in many countries. Yet, there is limited knowledge about the effects of the different policy instruments used to achieve this. This paper studies co-location as a driver for cross-sectoral collaboration with general practitioners (GPs) acting as coordinators in a municipal health centre. The purpose of ...

Heterogeneity is ubiquitous in firm-level and sectoral data. Equilibrium models, however, typically assume a representative firm, as in Andrew B. Abel and Olivier J. Blanchard (1983). The representative firm paradigm leaves no role for the distribution of capital. We model capital reallocation in a general equilibrium model with two sectors. Capital adjustment costs capture illiquidity in our m...