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on Computational Economics |
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Issue of 2015‒07‒18
nine papers chosen by |
| By: | Franzke, T.; Grosse, E. H.; Glock, C. H.; Elbert, R. |
| Date: | 2015–07–07 |
| URL: | http://d.repec.org/n?u=RePEc:dar:wpaper:74447&r=cmp |
| By: | OKIYAMA Mitsuru; IKEGAWA Maria; TOKUNAGA Suminori |
| Abstract: | This paper analyzes the effective allocation of a comprehensive package of grants to the production activity sectors for the purpose of promoting self-sustained economic development in Okinawa prefecture. We find the following results by using a regional computable general equilibrium (CGE) model comprised of six regions including Okinawa. First, the economic welfare of Okinawa increased by 123.2 billion yen due to a public fiscal transfer of 98.7 billion yen based on the comprehensive package of grants in FY2014. We project the real gross regional product (GRP) of Okinawa as compared to the base year (2005) to be 2.155% higher, and 17,000 jobs in Okinawa were created under labor endowment in 2005. Second, we recommend revitalizing the manufacturing industry rather than the service industry such as tourism from the viewpoint of the spillover effect to other industries in Okinawa. Third, if the same amount of subsidy is given to either the agriculture and the related food processing industry or the transportation business, we would select the former over the latter because of the utilization of local resources and the industrial promotion of remote islands. |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:eti:rdpsjp:15038&r=cmp |
| By: | Paltsev, Sergey; Chen, Y.-H. Henry; Karplus, Valerie; Kishimoto, Paul; Reilly, John; Loeschel, Andreas; von Graevenitz, Kathrine; Koesler, Simon |
| Abstract: | CO2 emissions mandates for new light-duty passenger vehicles have recently been adopted in the European Union (EU), which require steady reductions to 95 g CO2/km in 2021. Using a computable general equilibrium (CGE) model, we analyze the impact of the mandates on oil demand, CO2 emissions, and economic welfare, and compare the results to an emission trading scenario that achieves identical emissions reductions. We find that vehicle emission standards reduce CO2 emissions from transportation by about 50 MtCO2 and lower the oil expenditures by about €6 billion, but at a net added cost of €12 billion in 2020. Tightening CO2 standards further after 2021 would cost the EU economy an additional €24-63 billion in 2025 compared with an emission trading system achieving the same economy-wide CO2 reduction. We offer a discussion of the design features for incorporating transport into the emission trading system. |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cawmdp:84&r=cmp |
| By: | Matteo G. Richiardi |
| Abstract: | In this paper, I elaborate on the role of agent-based (AB) modelling for macroeconomic research. My main tenet is that the full potential of the AB approach has not been realised yet. This potential lies in the modular nature of the models, which is bought by abandoning the straitjacket of rational expectations and embracing an evolutionary perspective. I envisage the foundation of a Modular Macroeconomic Science, where new models with heterogeneous interacting agents, endowed with partial information and limited computational ability, can be created by recombining and extending existing models in a unified computational framework. This crucially requires the development of appropriate application programming interfaces (APIs), a set of routines, protocols, and tools which define functionalities internally used by the simulated agents (e.g. learning algorithms) or used by the agents to interact with other agents (exchange of information, goods and services) that are independent of their respective implementations. |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:cca:wplabo:141&r=cmp |
| By: | Ross Richardson (Institute for New Economic Thinking at the Oxford Martin School; Mathematical Institute, University of Oxford, UK); Matteo Richiardi (Institute for New Economic Thinking and Nuffield College, Oxford, UK; Collegio Carlo Alberto, Moncalieri, Italy Mathematical Institute, University of Oxford); Michael Wolfson (University of Ottawa, Canada) |
| Abstract: | We provide a clarification of scaling issues in simulation models, distinguishing between sample size determination, discovery of emergent properties involving a qualitative change in the behaviour of the system at an aggregate level, and ‘true’ scaling, the dependence of the quantitative behaviour of the system at any given level of aggregation, to its size. Scaling issues arise because we want to understand what happens when we run one billion agents, without actually having to run one billion agents. We discuss how we can use the Buckingham Pi theorem, a key tool in dimensional analysis, to provide guidance on the nature and structure of scaling relationships in agent-based models. |
| Date: | 2015–06–30 |
| URL: | http://d.repec.org/n?u=RePEc:nuf:econwp:1505&r=cmp |
| By: | Anne Célia Disdier; Charlotte Emlinger; Jean Fouré |
| Abstract: | Trade liberalization of the agri-food sector is a sensitive topic in both TTIP (Transatlantic Trade and Investment Partnership) and TPP (Trans-Pacific Partnership) discussions. This paper first provides an overview of the current flows and trade barriers. Using a general equilibrium model of international trade (the MIRAGE model), it then assesses the potential impact of these two agreements on agri-food trade and value added. Results suggest that the US would gain from both agreements for their agri-food sectors, while almost all their partners and third countries would benefit less and even register losses in some sectors. The two agreements however do not compete much one with the other, since all defensive and offensive interests of contracting parties are complementary. Finally, the Atlantic trade may be impacted by the inclusion of standards harmonization within the Pacific Agreement but not by its extension to additional members (e.g. China or India). |
| Keywords: | Mega-trade deals;Agri-food;CGE model;Transatlantic Trade and Investment Partnership;Trans-Pacific Partnership |
| JEL: | F13 F15 Q17 |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:cii:cepidt:2015-10&r=cmp |
| By: | Robert M'barek (European Commission – JRC - IPTS); Jacques Delincé (European Commission – JRC - IPTS) |
| Abstract: | Building, maintaining and applying the integrated Modelling Platform for Agro-economic Commodity and Policy Analysis (iMAP) has been a long-term project (since 2005) at the Joint Research Centre Institute for Prospective Technological Studies (JRC-IPTS), whose aim is to deliver in-house policy support to the European Commission. iMAP is the result of collaboration with and contributions from many former and present IPTS colleagues, as well as from researchers outside IPTS. The present JRC Technical Report provides an update on published model-related policy impact analysis related to baselines, the Common Agricultural Policy, Resource and energy policies, the bioeconomy, Europe and its neighbours, and Europe’s agri-food sector in the global market. |
| Keywords: | models, PE, CGE, agriculture, trade, bioeconomy, iMAP, economics, modelling, data |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc95468&r=cmp |
| By: | Marcos Valdivia López |
| Abstract: | This study proposes a spatial interaction model to analyze the level of creativity across Metro Areas (MAs) in a country. The model postulates that increasing creativity depends on the proportions of common knowledge and differential knowledge that MAs face when they interact with each other. We rely on an agent-based approach that allows incorporating GIS and spatial interaction between MAs under local and global network conditions. We chose the cases of Mexico and Spain to get a first glance of how the model works with real data. We find that the MAs of Spain (2001) and Mexico (2003) share the same level of common and differential knowledge in the creative industries and, that knowledge spillovers spread better under inter metropolitan conditions of interaction instead of intra ones. The simulations suggest that Spain is better suited to produce higher knowledge externalities under conditions that are not restricted by physical distance, which make policy intervention in Spain more effective to diffuse creative ideas. |
| Keywords: | Externalities, knowledge spillovers, creative industries, urban spatial models, computational modeling. |
| Date: | 2015–07 |
| URL: | http://d.repec.org/n?u=RePEc:uae:wpaper:0815&r=cmp |
| By: | Ovidiu Racorean |
| Abstract: | In quantum computation, series of quantum gates have to be arranged in a predefined sequence that led to a quantum circuit in order to solve a particular problem. What if the sequence of quantum gates is known but both the problem to be solved and the outcome of the so defined quantum circuit remain in the shadow? This is the situation of the stock market. The price time series of a portfolio of stocks are organized in braids that effectively simulate quantum gates in the hypothesis of Ising anyons quantum computational model. Following the prescriptions of Ising anyons model, 1-qubit quantum gates are constructed for portfolio composed of four stocks. Adding two additional stocks at the initial portfolio result in 2-qubits quantum gates and circuits. Hadamard gate, Pauli gates or controlled-Z gate are some of the elementary quantum gates that are identified in the stock market structure. Addition of other pairs of stocks, that eventually represent a market index, like Dow Jones industrial Average, it results in a sequence of n-qubits quantum gates that form a quantum code. Deciphering this mysterious quantum code of the stock market is an issue for future investigations. |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1507.02310&r=cmp |