Related papers: CAP and Monetary Policy
Securitization has become prevalent in many countries, and has substantial impact on government monetary policy and fiscal policy which have not yet been adequately analyzed in the existing literature. This article develops optimal…
The so called "globalization" process (i.e. the inexorable integration of markets, currencies, nation-states, technologies and the intensification of consciousness of the world as a whole) has a behavior exactly equivalent to a system that…
The main objective of this paper is to fill a critical gap in the literature by analyzing the effects of decentralization on the macroeconomic stability. A survey of the voluminous literature on decentralization suggests that the question…
A financial market is a system resulting from the complex interaction between participants in a closed economy. We propose a minimal microscopic model of the financial market economy based on the real economy's symmetry constraint and…
This study estimates the risk contributions of individual European countries regarding the indemnity payments in agricultural insurance. We model the total risk exposure as an insurance portfolio where each country is unique in terms of its…
This paper analyses the impact of credit expansions arising from decreases in collateral requirements or more expansionary monetary policies on long-term productivity in a model with endogenous growth. Credit expansions associated with…
Low-carbon electricity is a key enabler in combating climate change. Decarbonising the power sector is now at the centre of global and European policies. As the IPCC highlights, pathways where the power sector rapidly decarbonises by 2030…
Machine learning and statistical modeling methods were used to analyze the impact of climate change on financial wellbeing of fruit farmers in Tunisia and Chile. The analysis was based on face to face interviews with 801 farmers. Three…
How does the monetary and fiscal policy mix alter households' saving incentives? To answer these questions, we build a heterogenous agents New Keynesian model where three different types of agents can save in assets with different liquidity…
As various technologies are integrated and implemented into the food and agricultural industry, it is increasingly important for stakeholders throughout the sector to identify and reduce cybersecurity vulnerabilities and risks associated…
In this paper, we investigate the effectiveness of conventional and unconventional monetary policy measures by the European Central Bank (ECB) conditional on the prevailing level of uncertainty. To obtain exogenous variation in central bank…
We develop a simple theoretic game a model to analyze the relationship between electoral sys tems and governments' choice in trade policies. We show that existence of international pressure or foreign lobby changes a government's final…
This paper revisits the classic instrument choice problem in a setting with consumption externalities, through the lens of robust mechanism design. A regulator can implement any incentive-compatible policy but is uncertain about how…
Climate policy has become increasingly politicized in many countries including the US, with some political parties unwilling to pursue strong measures. Therefore, to be successful in mitigation, climate policies must be politically…
This paper provides a general method to directly translate a classical economic framework with a large number of agents into a field-formalism model. This type of formalism allows the analytical treatment of economic models with an…
Electricity market mechanisms designed to steer sustainable generation of electricity play an important role for the energy transition intended to mitigate climate change. One of the major problems is to complement volatile renewable energy…
There is an increasing supply and demand for political advertising throughout the world. At the same time, societal threats, such as election interference by foreign governments and other bad actors, continues to be a pressing concern in…
Reforming alcohol price regulations in wine-producing countries is challenging, as current price regulations reflect the alignment of cultural preferences with economic interests rather than public health concerns. We evaluate and compare…
We consider a financial market in which traders potentially face restrictions in trading some of the available securities. Traders are heterogeneous with respect to their beliefs and risk profiles, and the market is assumed thin: traders…
International trade can be a profitable business for agri-food communities. However, access to international markets can be costly and thus unattainable for small and medium sized enterprises (SMEs). This problem is exacerbated under trade…