prone to agency problems and political rent-seeking. If sufficiently large, they may also add to economy volatility by …

This paper develops a large-scale, dynamic life-cycle model to simulate Russia's demographic and fiscal transition … under favorable and unfavorable fossil-fuel price regimes. The model includes Russia, the U.S., China, India, the EU, and … Japan+ (Japan plus Korea). The model predicts dramatic increases in tax rates in the U.S., EU, India, and Russia. Indeed …

In this paper we analyze the evolution of the Mexican economy between 1995 and 1998. The remarkable quick recovery seen … in aggregate activity has not been uniform across the economy. The tradable sector has grown strongly, while the non …