In order to assess the growth implications of policy complementarities, this paper applies second-best results to reform indicators. During the transition from central planning to EU integration, which corresponds to a policy cycle, a complementarity index based on structural indicators compiled...

While several culprits have been proposed to explain the current trade collapse (e.g. the credit crunch, global production chains, generalised loss of confidence), the great synchronisation underlying the collapse suggests that it is very probably their interaction, rather than each individual...

In this paper, we present estimates of the mark-up of product price over marginal costs for the manufacturing industries of the US and the other G-5 countries. The paper extends the analysis used in previous studies based on nominal productivity residuals by considering intermediate inputs and...

The separability between efficiency and equity is an underlying assumption in most of the computable general equilibrium (CGE) models that have hitherto been used, to assess the economic costs of international agreements to reduce carbon emissions. The analytical correctness of this hypothesis...

In December 1997, a number of countries - referred to as the Annex 1 countries - signed the Kyoto Protocol under which they agreed to ceilings on their emissions of greenhouse gases (GHGs). Such unilateral action by a group of countries has often been criticized on the grounds that it could be...