This paper assesses empirically the effects of oil price shocks on the real economic activity of the main industrialised countries. Multivariate VAR analysis is carried out using both linear and nonlinear models. The latter category includes three approaches employed in the literature, namely,...

We present a general equilibrium model of the global oil market, in which the oil price, oil production, and consumption, are jointly determined as outcomes of the optimizing decisions of oil importers and oil exporters. On the supply side the oil market is modelled as a dominant firm – Saudi...

This report provides an update of the trends to 2030 published in 2003. The new baseline takes into account a high energy import price environment, the unsatisfactory economic growth of recent years and the more subdued growth prospects taking into account demographic developments. It includes,...

Dieses Grünbuch möchte als Katalysator wirken, um auf allen Ebenen der europäischen Gesellschaft – sei es auf EU-Gemeinschaftsebene, sei es auf einzelstaatlicher, regionaler oder kommunaler Ebene – auf eine erneuerte Energieeffizienz-Initiative hinzuwirken. ... Wettbewerbsfähigkeit und...

Die Auswirkungen unseres Konsums sind weltweit spürbar: Die EU ist abhängig von der Einfuhr von Energie und Rohstoffen, und ein immer größerer Anteil der in Europa verbrauchten Produkte wird in anderen Teilen der Welt produziert. Nicht-nachhaltige Verbrauchs- und Produktionsmuster haben...

This Country Focus discusses the relation between public investment and economic growth in Poland. Theoretical and empirical work has shown that improvements in the quantity and quality of public infrastructure have a positive impact on growth in the medium and, possibly, in the long run. The...

Following several years of low growth Germany is presently enjoying a relatively strong recovery. With unemployment falling at record speed and fiscal consolidation progressing, the upswing is set to continue in spite of uncertainties surrounding the VAT increase of January 2007. This Country...