The UK's self-sufficiency in fossil fuels shields public finances from the negative effects of higher oil prices on general economic activity. Changes in the international price of oil affect government revenues from the corporate and household sectors. Taxes on oil production are estimated to...

G-Cubed is a multi-country, multi-sector, intertemporal general equilibrium model that has been used to study a variety of policies in the areas of environmental regulation, tax reform, monetary and fiscal policy, and international trade. It is designed to bridge the gaps between three areas of...