or adding new ones, and even if the reforms stimulate a faster rate of economic growth. …

objective. In this paper we use WITCH, a hybrid climate-energy-economy model, to obtain a quantitative assessment of some cost …-effective strategies that stabilise CO2 concentrations at 550 or 450 ppm. In particular, this paper analyses the energy investment and R …&D policies that optimally achieve these two GHG stabilisation targets (i.e. the future optimal energy mix consistent with the …

A competitive stock market is embedded into a neoclassical growth economy to analyze the interplay between the … economic growth by raising total factor productivity, but its impact is only transitory. Several predictions on the evolution …

of productivity growth, but the effect depends critically on a country's level of financial development. For countries … with relatively low levels of financial development, exchange rate volatility generally reduces growth, whereas for … rate volatility, and outliers. We also offer a simple monetary growth model in which real exchange rate uncertainty …

Cross-country evidence is presented on resource dependence and the link between volatility and growth. First, growth … depends negatively on volatility of unanticipated output growth independent of initial income per capita, the average … growth. Second, the adverse effect of resources on growth operates primarily through higher volatility. The positive effect …

. On the basis of observed growth in sectoral value added output, we calculate for each state the efficient frontier for … volatility of state output growth, rather than in its average. The realized industry shares of output also converge faster to …