This looks like it could be an important paper for climate economics.
In short, existing climate-economics are trained with no assumption of international trade. That means that, in the models, if one country has a drought that causes food shortages it's screwed, because unlike in reality it […]
by the unrestricted operation of automatic stabilisers and, only in exceptional cases, by discretionary measures to prevent severe depressions. #Monetarykeynesianism #postkeynesianism #generalequilibrium
by the unrestricted operation of automatic stabilisers and, only in exceptional cases, by discretionary measures to prevent severe depressions. #Monetarykeynesianism #postkeynesianism #generalequilibrium
#PhD and #Doctoral student in #economics (or closely related field)? Interested in #generalequilibrium modelling, #GAMS software?
Check out our upcoming course “General Equilibrium Modelling in a Complementarity Format”
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