The Bogor Declaration of 1994 proposed free trade in the Asia Pacific region by the year 2020. If implemented as announced, this program will have important implications for the world economy over the next few decades. This paper uses a new dynamic multi-sector global model called the...

The Kyoto Protocol is seen by many as a step forward in reaching the UNFCCC goals of slowing emissions of greenhouse gases. In this paper we argue that the issue of regime sustainability in developing the Kyoto approach to climate change has received too little attention. We question the...

An important aspect of macroeconomic interdependence in the Asia Pacific region is the adjustment of trade and current account balances in response to changes in saving and investment rates in individual economies. Greater trade flows, reliance on imported intermediate goods as well as more...