spillovers

Publication date: 4 May 2018 | Publication type: National Institute Economic Review | Theme: Macroeconomics | External authors: Slopek, U | JEL classification: E37, F13, F41, F47 | Journal: National Institute Economic Review Issue 244 | Publisher: Sage Publications, London
We modify NiGEM in order to study the macroeconomic effects of imposing import tariffs in the US under different assumptions regarding the long-run price setting behaviour of exporters. Overall, the macroeconomic implications in the US resemble the impact of a cost shock or adverse supply shock as...
Publication date: 4 May 2018 | Publication type: National Institute Economic Review | Theme: Macroeconomics | External authors: Esser, A, Jorra, M, Slopek, U | JEL classification: E37, F14, F17, F44, F47 | Journal: National Institute Economic Review Issue 244 | Publisher: Sage Publications, London
For a large number of countries, we augment the specification of import demand in NiGEM by accounting for different import contents of individual expenditure components. Three examples illustrate that these changes have important implications for model outcomes. In the case of the recently enacted...
Publication date: 4 May 2018 | Publication type: National Institute Economic Review | Theme: Macroeconomics | External authors: Pain, N, Rusticelli, E, Salins, V, Turner, D | JEL classification: C5, E6 | Journal: National Institute Economic Review Issue 244 | Publisher: Sage Publications, London
There is a strong case for boosting public investment in many countries based on identified country-specific structural weaknesses and the relatively low levels of such investment. This paper analyses the potential macroeconomic benefits of increased public investment using simulations on NiGEM....
Publication date: 4 May 2018 | Publication type: National Institute Economic Review | Theme: Macroeconomics | Authors: Hantzsche, A, Lopresto, M, Young, G | JEL classification: C5, E37, F41, F47 | Journal: National Institute Economic Review Issue 244 | Publisher: Sage Publications, London
This paper introduces a special issue of the Review on how the National Institute Global Econometric Model (NiGEM) is being used to navigate uncertain times. NiGEM is the leading global macroeconomic model, used by both policy-makers and the private sector across the globe for economic forecasting...
Publication date: 5 Aug 2015 | Publication type: National Institute Economic Review | Theme: Exiting the EU & Britain after Brexit | Authors: Armstrong, A, Ebell, M | JEL classification: E42, E58, E61, E63, H77 | Journal: National Institute Economic Review No. 233 | Publisher: Sage Publications, London
Abstract: The Smith Commission has proposed a set of reforms aimed at extending Scotland’s control of its revenues to 46 per cent and spending to 55 per cent and extending the legislative reach of the Scottish parliament. In reaction, the Conservative government has announced plans to implement...