Guided by a macroeconomic model in which non-energy commodity prices are endogenously determined, we apply a new factor-based identification strategy to decompose the historical sources of changes in commodity prices and global economic activity. The model yields a factor structure for commodity...

The globalization of capital and product markets has many implications for economic welfare. Countries can specialize in the production of goods for which they have comparative advantages, and capital is allocated more efficiently. However, one potentially adverse effect of globalization is the...

The globalization of capital and product markets has many implications for economic welfare. Countries can specialize in the production of goods for which they have comparative advantages, and capital is allocated more efficiently. However, one potentially adverse effect of globalization is the...

Klappentext: Nach einem Überblick über die verschiedenen Konzepte der "Sustainable Development" stellt der Autor am Beispiel der Nutzung tropischer Wälder dar, von welchen Sektoren Umweltschäden ausgehen und welchen gesamtwirtschaftlichen Beitrag diese Sektoren leisten. Anschließend wird...