In this paper we model U.S. labor supply and demand over the next 25 years. Despite the anticipated aging of the population, moderate population growth will provide growing supplies of labor well into the 21st century. Improvements in labor quality due to greater education and experience will...

This paper argues that the problem with the targets and timetable approach to climate policy is that it ignores uncertainty about costs. An alternative approach on coordinating short run prices within a long run emissions targeting framework is outlined. A global economic model is used to...

This paper identifies emerging trends in the world economy during the next decade. The first is that China will overtake the U.S. in terms of gross domestic product (GDP), ending more than a century of U.S. leadership as the world's largest economy. The second is that Developing Asia, excluding...

This paper introduces a new framework for projecting potential growth of the world economy, emphasizing the contribution of information technology. We first analyze the sources of economic growth for the world economy, seven regions, and fourteen major economies during four periods--1989-1995,...

The massive reconfiguration of the world economy over the next decade will lead to a New Economic Order by 2020. China will displace the U.S. as the world's leading economy and India will overtake Japan. This will shift the balance of the G20 from the leading industrialized economies of the G7...