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This paper discusses the likely evolution of the trade and environment issue in the World Trade Organization after the upcoming ministerial meeting in Singapore this December. It makes a number of points. Progress within the GATT/WTO on this issue looks likely to be slow and painfully...
Persistent link: https://www.econbiz.de/10013234937
The relationship between economic growth and the environment is not well understood: we have only limited understanding of the basic science involved and very limited data. Because of these difficulties it is especially important to develop a series of relatively simple theoretical models that...
Persistent link: https://www.econbiz.de/10013237919
captures some of the concerns of those who argue for sustainability and for a heightened sense of responsibility to the future …
Persistent link: https://www.econbiz.de/10013248110
Aging populations in advanced economies are placing ever-increasing demands on government spending in the form of old-age benefits. Economies that have promised substantially more benefits than they have made provision to finance are heading into a prolonged era of fiscal stress. Unresolved...
Persistent link: https://www.econbiz.de/10013129132
analyze the sustainability of the fiscal policy. We pursue three approaches to examine the sustainability. First, we calculate …
Persistent link: https://www.econbiz.de/10013121087
Using a recursive empirical model of the real interest rate, GDP growth, and the primary government deficit in the U.S., I solve for the ergodic distribution of the debt/GDP ratio. If such a distribution exists, the government is satisfying its intertemporal budget constraint. One key finding is...
Persistent link: https://www.econbiz.de/10013087045
The global economy has a chronic shortage of safe assets which lies behind many recent macroeconomic imbalances. This paper provides a simple model of the Safe Asset Mechanism (SAM), its recessionary safety traps, and its policy antidotes. Safety traps share many common features with...
Persistent link: https://www.econbiz.de/10013087881
Fiscal sustainability is one of the most pressing policy issues of our time. Yet it remains difficult to quantify …
Persistent link: https://www.econbiz.de/10013064889
traditional approach to evaluate debt sustainability, and examine three alternative approaches that provide useful econometric and … model-simulation tools to analyze debt sustainability. The first approach is Bohn's non-structural empirical framework based … three approaches to analyze debt sustainability in the United States and Europe after the recent surge in public debt …
Persistent link: https://www.econbiz.de/10013015096
This paper introduces endogenous and directed technical change in a growth model with environmental constraints and limited resources. A unique final good is produced by combining inputs from two sectors. One of these sectors uses "dirty" machines and thus creates environmental degradation....
Persistent link: https://www.econbiz.de/10013150439