Search

This paper examines the economic impact of the second great immigration wave (1945-2000) on the US economy. Our analysis relies on a computable general equilibrium model combining the major interactions between immigrants and natives (labor market impact, fiscal impact, capital deepening, endogenous education, endogenous inequality). Contrary to recent studies, we show that immigration induced important net gains and small redistributive effects among natives. According to our simulations, the postwar US immigration is beneficial for all natives cohorts and all skill groups. Nevertheless, the gains would have been larger if the US had conducted a more selective immigration policy. [ABSTRACT FROM AUTHOR]

Abstract: Renewable energy is an option for many countries simultaneously seeking to reduce dependence on imported petroleum and to reduce greenhouse gas (GHG) emissions that contribute to climate change. Forestry can play a role in environmental policies, such as renewable portfolio standards for bioelectricity, renewable fuel standards for biofuels, and forest carbon sequestration. This paper models interactions and interdependencies between bioelectricity and biofuel production, particularly from forest biomass. A global computable general equilibrium (CGE) model is used to measure the economic effects of bioenergy production from forest products, forest residues, and dedicated energy crops. The land use and emissions impacts on the global economy of revenue-neutral GHG mitigation policies are evaluated. Results show that mandated bioenergy production can substantially reduce carbon dioxide (CO2) emissions, especially through fossil fuel substitution in the electricity sector. Although emissions reductions from bioenergy production in the transportation fuel sector are less dramatic than those in the electricity sector, biofuels also have lower emissions rates than petroleum-based transportation fuels. [Copyright &y& Elsevier]

Abstract: In this paper, a fifteen regions–fifteen sectors global Computable General Equilibrium (CGE) model is calibrated. It offers quantitative enumeration of 5% exogenous biotechnological invention in USA in genetically modified crops namely, maize grains and soybean. Consequently, it results in endogenously transmitted productivity gains via traded intermediates in user sectors in donor and recipient regions. Sustained absorption and domestic usability of transgenic varieties depend on constellation of: human capital-induced absorptive capacity, governance, and structural congruence between source and recipients contingent on technology infrastructure and socio-institutional parameters. Such innovations result in higher production, welfare and global trade. Also, concomitant 4% exogenous productivity shock in information technology along with 5% productivity growth in the agro-biotech sectors further enhances such simulated impacts on global production and welfare. Regions with larger extent of technology capture aided by higher human capital, better governance, conducive institutional-structural features, and superior technological expertise perform better. [Copyright &y& Elsevier]

This paper describes a dynamic computable general equilibrium model developed to examine the value of wildlife recreation in the state of Florida. Growth and volatility in wildlife watching, fishing and hunting are simulated and used to determine the impact on gross state product. A scenario replicating the impact of the terrorist attacks of 11 September 2001 is examined. Results estimate the present value of losses from 2001 to 2010 could be between US$10 and US$80 billion. [ABSTRACT FROM AUTHOR]

Using ex post tariff schedules for the first time, it was found that the global gains provided by the Regional Comprehensive Economic Partnership (RCEP) are not enough to overcome the negative impacts of the United States–China trade dispute. While trade tensions cause China's welfare loss to be more than twice as large as the United States, they provide some trade diversion to RCEP members. But of concern is if India successfully delays the conclusion of the RCEP even by a year, there will be a global loss of US$17.7 billion. The RCEP is also beneficial for the emerging economy of Vietnam and the high‐tariff‐imposing Korean economy. The results obtained here are, however, conservative as reduction in non‐tariff barriers and other positive spillover effects of trade liberalisation related to investment and productivity improvements due to competition or increased intra‐industry trade could not be accounted for. [ABSTRACT FROM AUTHOR]

A three factor, four region and 15 sector computable general equilibrium (CGE) model is used to study the impact of foreign direct investment (FDI) accruing to China. We focus on the sectors of Electronics, Machinery and Textiles which account for 55.4% and 40% of Chinese overall exports and imports, respectively. Our data confirm the existence of production networks between China and East Asia and the role that the USA and the rest of the world (ROW) play as final markets. Based on these differentiated geographical roles and on the contrasting production technologies, we offer an in-depth analysis for macro- and micro-variables across the four regions. [ABSTRACT FROM AUTHOR]

Because of more restrictive assumptions on regional input-output (IO) models compared to computable general equilibrium (CGE) models, IO results are thought to be consistent with long-run equilibrium but otherwise overestimated. We compare IO and CGE models' response to a shock to Washington crop exports under various labor market and capital closures. Contrary to conventional wisdom, we find that the positive secondary impacts are larger in the CGE models than in the IO model. Also contrary to conventional wisdom, we find that the closest match between direct effects is when the CGE model has short run, rather than long run restrictions. [ABSTRACT FROM PUBLISHER]