|
on Computational Economics |
|
Issue of 2011‒08‒22
seven papers chosen by |
| By: | Michael Maurera (Vienna University of Technology); Vincent C. Emeakarohaa (Vienna University of Technology); Ivona Brandica (Vienna University of Technology); Jorn Altmann (College of Engineering, Seoul National University) |
| Abstract: | Due to the large variety in computing resources and, consequently, the large number of different types of service level agreements (SLAs), computing resource markets face the problem of a low market liquidity. Restricting the number of different resource types to a small set of standardized computing resources seems to be the appropriate solution to counteract this problem. Standardized computing resources are defined through an SLA template. An SLA template defines the structure of an SLA, the service attributes, the names of the service attributes, and the service attribute values. However, since existing research results have only introduced static SLA templates so far, the SLA templates cannot reflect changes in user needs and market structures. To address this shortcoming, we present a novel approach of adaptive SLA matching. This approach adapts SLA templates based on SLA mappings of users. It allows Cloud users to define mappings between a public SLA template, which is available in the Cloud market, and their private SLA templates, which are used for various in-house business processes of the Cloud user. Besides showing how public SLA templates are adapted to the demand of Cloud users, we also analyze the costs and benefits of this approach. Costs are incurred every time a user has to define a new SLA mapping to a public SLA template due to its adaptation. In particular, we investigate how the costs differ with respect to the public SLA template adaptation method. The simulation results show that the use of heuristics within adaptation methods allows balancing the costs and benefits of the SLA mapping approach. |
| Keywords: | Service level agreements, Cloud architecture, Cloud markets, market liquidity, cost modeling, utility modeling, SLA matching, goods standardization. |
| JEL: | C15 C61 C63 D40 D45 L22 L86 |
| Date: | 2011–07 |
| URL: | http://d.repec.org/n?u=RePEc:snv:dp2009:201177&r=cmp |
| By: | Verónica Amarante (Instituto de Economía, Facultad de Ciencias Económicas y de Administración, Universidad de la República); Marisa Bucheli (Departamento de Economía, Facultad de Ciencias Sociales, Universidad de la República); Cecilia Olivieri (Departamento de Economía, Facultad de Ciencias Sociales, Universidad de la República); Ivone Perazzo (Instituto de Economía, Facultad de Ciencias Económicas y de Administración, Universidad de la República) |
| Abstract: | This article considers the distributional impact of different changes in Uruguayan tax system, using a static micro-simulation framework based on the combination of data from household and expenditure surveys. On the indirect taxes side, we consider two alternatives that imply the same reduction in tax revenue: a general reduction of 2 points in the VAT basic rate, and a selective reduction in the VAT rate applied to specific goods that make up a large share of consumption of low income population. In relation to direct taxes, we consider the effects of increasing the upper limit of the tax free zone of the labor component of the dual income tax. We analyze separately the impact of each of these changes, and we also simulate a joint scenario including changes in direct and indirect taxes. Our results indicate that redistribution through the analyzed modifications in direct and indirect taxes in Uruguay is limited. |
| Keywords: | Retail; fiscal redistribution, income inequality, taxes |
| JEL: | D31 H23 H20 |
| Date: | 2011–06 |
| URL: | http://d.repec.org/n?u=RePEc:ude:wpaper:0911&r=cmp |
| By: | Joaquim Bento de Souza Ferreira Filho (Escola Superior de Agricultura Luiz de Queiroz, Universidade de São Paulo); Mark Horridge (Centre of Policy Studies – COPS, Monash University) |
| Abstract: | In this paper we analyze the Indirect Land Use Change (ILUC) effects of ethanol production expansion in Brazil through the use of an inter-regional, bottom-up, dynamic general equilibrium model calibrated with the 2005 Brazilian I-O table. A new methodology to deal with ILUC effects is developed, using a transition matrix of land uses calibrated with Agricultural Censuses data. Agriculture and land use are modeled separately in each of 15 Brazilian regions with different agricultural mix. This regional detail captures a good deal of the differences in soil, climate and history that cause particular land to be used for particular purposes. Brazilian land area data distinguish three broad types of agricultural land use, Crop, Pasture, and Plantation Forestry. Between one year and the next the model allows land to move between those categories, or for Unused land to convert to one of these three, driven initially by the transition matrix, changing land supply for agriculture between years. The transition matrix shows Markov probabilities that a particular hectare of land used in one year for some use would be in an other use next period. These probabilities are modified endogenously in the model according to the average unit rentals of each land type in each region. A simulation with ethanol expansion scenario is performed for year 2020, in which land supply is allowed to increase only in states located on the agricultural frontier. Results show that the ILUC effects of ethanol expansion are of the order of 0.14 hectare of new land coming from previously unused land for each new hectare of sugar cane. This value is higher than values found in the Brazilian literature. ILUC effects for pastures are around 0.47. Finally, regional differences in sugarcane productivity are found to be important elements in ILUC effects of sugar cane expansion. |
| JEL: | C68 D58 E47 Q15 Q16 |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:fup:wpaper:0114&r=cmp |
| By: | Grant Allan (Fraser of Allander Institute, University of Strathclyde); Michelle Gilmartin (Fraser of Allander Institute, University of Strathclyde) |
| Abstract: | One aspect of the case for policy support for renewable energy developments is the wider economic benefits that are expected to be generated. Within Scotland, as with other regions of the UK, there is a focus on encouraging domesticallyâ€based renewable technologies. In this paper, we use a regional computable general equilibrium framework to model the impact on the Scottish economy of expenditures relating to marine energy installations. The results illustrate the potential for (considerable) ‘legacy’ effects after expenditures cease. In identifying the specific sectoral expenditures with the largest impact on (lifetime) regional employment, this approach offers important policy guidance. |
| Keywords: | Renewable energy policy; regional economic impacts; computable general equilibrium modelling. |
| JEL: | C68 R11 R58 |
| Date: | 2011–08 |
| URL: | http://d.repec.org/n?u=RePEc:str:wpaper:1129&r=cmp |
| By: | Raberto, Marco; Teglio, Andrea; Cincotti, Silvano |
| Abstract: | The recent financial crises pointed out the central role of public and private debt in modern economies. However, even if debt is a recurring topic in discussions about the current economic situation, economic modelling does not take into account debt as one of the crucial determinants of economic dynamics. Our contribution, in this paper, is to investigate the issues of borrowing and debt load by means of computational experiments, performed in the environment of the agent-based Eurace simulator. We aim to shed some light on the relation between debt and the main economic indicators. Our results clearly confirm that the amount of credit money in the economy is a very important variable, that can affect economic performance in a twofold way: fostering growth or pushing the economy into recession or crisis. The outcomes of our experiments show a rich scenario of interactions between real and financial variables in the economy, and therefore represents a truly innovative tool for the study of economics. -- |
| Keywords: | Agent-based computational economics,debt,leverage,credit money,economic crisis |
| JEL: | E2 E3 E44 E51 |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwedp:201131&r=cmp |
| By: | Alma Romero-Barrutieta; Jose Daniel RodrÃguez-Delgado; Ales Bulir |
| Abstract: | The effects of debt relief on incentives to accumulate debt, consume, and invest are an important concern for donors and recipients. Using a dynamic stochastic general equilibrium model of a small open economy with a minimum consumption requirement and an endogenous relief probability, we show that excessive debt accumulation is consistent with an anticipation of a future debt relief. Simulations of the calibrated model using 1982-2006 Ugandan data suggest that debt-relief episodes are likely to have only a temporary impact on the level of debt in low-income countries, while being associated with more consumption and less invesment. The long-run debt-to-GDP ratio is estimated to be about twice as high with debt relief than without it. |
| Keywords: | Debt problems , Debt relief , Economic models , External debt , Heavily indebted poor countries , HIPC Initiative , Low-income developing countries , |
| Date: | 2011–07–06 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:11/157&r=cmp |
| By: | Wang, Chen; Caminada, Koen |
| Abstract: | The aim of this paper is to offer detailed information of fiscal redistribution in 36 countries, employing data that have been computed from the Luxembourg Income Study’s micro-level database. LIS data are detailed enough to allow us to measure both overall redistribution, and the partial effects of redistribution by several taxes or transfers. We elaborate on the work of Jesuit and Mahler (2004) and Mahler and Jesuit (2006), and we refine, update and extent their Fiscal Redistribution approach. LIS data allow us to decompose the trajectory of the Gini coefficient from primary to disposable income inequality in several parts: we will distinguish 11 different benefits and several income taxes and social contributions in our empirical investigation across countries. First, we use LIS data to analyze income inequality and the redistributive effect of social transfers across countries in a descriptive way. Then we proceed with a simulation approach for 36 countries for which we decompose income inequality through several taxes and transfers. We analyze the redistributive effect of several social programs, like unemployment benefits or pensions and income taxes. We develop a budget incidence simulation model to investigate to what extent several social transfers contribute to the overall redistribution in modern welfare states under a strong assumption that the absence of social transfers and taxes would not change individual behavior and labor supply. Among all countries listed in this paper, Denmark and Sweden have the smallest income disparity, while Peru and Colombia have the largest. Nordic countries show the most equally distributed disposable incomes and primary incomes, comparing to the countries in other types of welfare states. On average, large primary income disparity exists in Anglo-Saxon countries. Generally speaking, European countries achieve lower levels of income inequality than other countries. With respect to the redistributive effect, our budget incidence analysis indicates that the pattern is diverse across countries. The largest redistribution is found for Belgium, while Colombia and Peru show rather limited overall redistributive effects. On average, transfers reduce income inequality by over 85 percent, while taxes account for only 15 percent of total redistribution. Among all welfare states, Continental European countries (Belgium, France, Germany, and Luxembourg) achieve the highest level of the reduction of initial income inequality. As far as social programs is concerned, in most countries two dominant income components account for above 50 percent of total reduction in income inequality: the public old age pensions and the survivors scheme, and the income taxes. For example, in Southern European Countries the public old age benefits account for over 80 percent of total redistribution, while these figures are much lower for Anglo-Saxon Countries (20-34%), for Nordic Countries (31-48%), for Continental European Countries (47-57%), and for Central Eastern European Countries (54-70%). In Anglo-Saxon Countries income taxes play a major role (above 30%) compare to other countries (with the exception the United kingdom). Also the redistributive effect of social assistance and child and family benefits in the Anglo-Saxon Countries are relatively high in a comparative setting (9-28%). In Nordic Countries also a variety of other social programs contribute to the reduction of inequality, especially the disability scheme (9-15%). Remarkably, across countries all other social benefit programs seem to have rather limited redistributive effects, although the unemployment compensation benefits do have some effect too. |
| Keywords: | welfare states, social income transfers, inequality, Gini coefficient, LIS |
| JEL: | H55 H53 I32 |
| Date: | 2011–08–04 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:32821&r=cmp |