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    Estimation of the Elasticity of Substitution

    Published 04-08-2022
    MAKRO Christian Kastrup Anders Kronborg Peter Stephensen

    This paper presents a new state-space framework to jointly estimate the capital-labor elasticity of substitution and time-varying factor-augmenting technical change.

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    Macroeconomic Effects of an uniform carbon Tax

    Published 21-03-2022
    GreenREFORM Jens Sand Kirk Simon Henriksen

    This memo describes the effects of an implementation of a Danish greenhouse gas emission tax in the current preliminary version of GreenREFORM.

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    Modelling the EU ETS system in GreenREFORM

    Published 07-02-2022
    GreenREFORM Jens Sand Kirk

    In this note, I will discuss how to model the EU ETS system in GreenREFORM.

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    Modelling marginal tax rates in GreenREFORM

    Published 06-02-2022
    GreenREFORM Peter Stephensen Jens Sand Kirk

    This note propose a general methodology for incorporating exogenous marginal tax rates in input demand functions of firms, while still respecting national accounts statistics on total production costs ...

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    Marginal propensity to consume

    Published 08-12-2021
    MAKRO Anders Kronborg Martin Bonde Peter Stephensen

    This note describes how the beta bersion of MAKRO is calibrated to provide empirically substantiated levels of private consumption by age. In addition, it is examined how households’ marginal propensi ...

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    MAKRO Model Documentation

    Published 08-12-2021
    MAKRO Joao Ejarque Martin Bonde Grane Høegh Anders Kronborg Peter Stephensen

    This is the model documentation of the beta version of MAKRO.

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    Estimating foreign shocks in a VAR model

    Published 07-12-2021
    MAKRO Anders Kronborg

    This note describes how foreign shocks are estimated in the work with the MAKRO model.

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    Estimating government spending shocks in a VAR model

    Published 07-12-2021
    MAKRO Anders Kronborg

    In this working paper, the effects of and adjustment to government spending shocks for the Danish economy are estimated and identified in a structural VAR model using quarterly data.

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    Evaluation of the MAKRO model

    Published 08-11-2021
    MAKRO

    A group of international experts has made a written evaluation of MAKRO. The expert group concludes that the model meets international standards and is ready to be used.

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    Armington with Heterogeneous Firms

    Published 14-10-2021
    GreenREFORM Peter Stephensen

    The modelling of price formation and market equilibrium at the sector level is often based on Armington (1969). The paper describes an Armington model with heterogeneous firms.