Résultats de recherche
Creator: Chari, V. V., Christiano, Lawrence J., and Kehoe, Patrick J. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 520 Mot-clé: Business cycles, Policy analysis, Exogenous growth model, Monetary policy, Optimal taxation, Friedman rule, and Fiscal policy Assujettir: E52 - Monetary Policy and E32 - Business Fluctuations; Cycles
Creator: Mercenier, Jean Series: Staff report (Federal Reserve Bank of Minneapolis. Research Department) Number: 183 Abstract:
Applied general equilibrium models with imperfect competition and economies of scale have been extensively used for analyzing international trade and development policy issues. They offer a natural framework for testing the empirical relevance of propositions from the industrial organization and new trade theoretical literature. This paper warns model builders and users that considerable caution is needed in interpreting the results and deriving strong policy conclusions from these models: in this generation of applied general equilibrium models, nonuniqueness of equilibria is not a theoretical curiosum, but a potentially serious problem. Disregarding this may lead to dramatically wrong policy appraisals.
Mot-clé: Policy analysis, Scale economy , International trade , Trade agreement, and Free trade