This paper examines the role of electricity production from biomass with and without carbon capture and storage in sustaining low CO 2 emission pathways to 2100. It quantifies the effect of the availability of biomass resources and technologies within a general equilibrium framework. We assess...

GDP and employment effects of climate policyCGEGDP and employment effects of climate policy

About 50% of New Zealand's greenhouse gases are not carbon dioxide, being mostly methane and nitrous oxide. Consequently the exchange rates between different gases - that is their CO2 equivalence - could have significant effects on the cost to New Zealand of meeting international emissions...

The Stern/Nordhaus controversy has polarized the widely disparate beliefs about what to do in order to tackle the climate challenge. Between Nordhaus' ``policy ramp'' which recommends gradual action to avoid costly premature low-carbon investments and Stern's ``early strong emissions cut'', the...

assessing the decreasing role of geographical distance (as a result of globalisation) in the world economy spatial econometric techniquesDecreasing role of distance increasing importance of financial openness as channel of spillovers aross countries

Ageing societies influence the development of industrialised countries. A changing age composition of the population not only affects pension and social security systems but also infrastructure, housing market, available workforce and consumption pattern. Though the process proceeds only slowly,...

This paper explores the capacity of computable general equilibrium (CGE) models to track down policy induced economic changes and their ability to generate contrastable data for an economy. Starting from an empirically built regional Social Accounting Matrix (SAM), a first stage CGE calibrated...

Compared to oil and gas, metals have been rather a side issue in the economic analysis of natural resources in the last decades. However, in the recent past we saw an increase of interest in the topic, mainly driven by the heated discussion about critical metals. Rare Earth Elements (REE) are...

The objective of this paper is to build and use FAVAR model to evaluate the responses of a wide range of macroeconomic variables to monetary policy shocks. FAVAR is superior to standard VAR for many reasons. One, with Factor VAR model, it is possible to combine the standard VAR approach with...

For a long time European gas markets used to be dominated by `national champions', vertically integrated firms, controlling imports, transit lines and distribution networks. In its drive to create a common market, the EU commission is trying to overcome this fragmentation by liberalizing...