The purpose of this paper is to show how to solve linear dynamic rational expectations models with anticipated shocks by using the generalized Schur decomposition method. Furthermore, we determine the optimal unrestricted and restricted policy...

We develop a dynamic general equilibrium two-economy model in order to analyze the welfare effects of monetary policy in open economies. The model features two distortions: one distortion due to monopolistic competition, and one distortion due to a...

A dynamic general equilibrium two-country optimizing model is used to analyze the welfare effects of monetary policy in open economies. The distinguishing feature of the model is that households' preferences feature a keeping up with the Joneses...

Large-scale agricultural land acquisitions might entail substantial welfare implications for the affected rural population. Whether the impacts are indeed as devastating as the popular notion of "land grabs" would suggest depends on a number of...

We study the local welfare effects of large-scale agricultural land acquisitions in Sub-Saharan Africa using a theoretical model that captures the major channels through which land deals might affect rural African populations. We distinguish two...