Kennedy, Robbins and Delorme examine the importance of fiscal rules in determining budgetary outcomes. After briefly reviewing the rationale for rules, the paper compares the rules introduced in several countries at the national and subnational levels. It notes that while several countries have...

This paper sheds light on the complex macroeconomic effects initiated by capital income taxation using a dynamic applied general equilibrium model of the U.S. economy. The model considers impacts of policy changes on the allocation of resources across both industries and countries, and over...

This paper presents a technical description of the OECD's multi-sector, multi-country applied general equilibrium model -- the WALRAS model. This model has been developed with the explicit objective of quantifying the economy-wide effects of agricultural policies in OECD countries. The common...