This paper provides a numerical illustration of how an international carbon treaty might work. The simulations in this paper using 2004 data on carbon emissions and per capita GDP from 178 countries suggest that high-income countries might be much better off collectively compensating low-income...

The paper investigates the causality relationship between energy consumption and economic growth for Nigeria during the period 1980-2006. The results of our estimation show that real gross domestic product (rGDP) and electricity consumption (ele) are cointegrated and there is only unidirectional...

This paper proposes a methodology to measure social impact of terrorism. We define a multidimensional terrorism index based not only on deaths but also on other variables such as injuries, bombs and kidnappings. The weight of each terrorist activity is given by its social impact, which is...

The persistence of global imbalances remains a potential source of instability for the international economic system, which ought to be tackled in order to exit from the current crisis in a better position. This paper shows that the complexity of the global network of trade imbalances has...

This paper argues that the problem with the targets and timetable approach to climate policy is that it ignores uncertainty about costs. An alternative approach on coordinating short run prices within a long run emissions targeting framework is outlined. A global economic model is used to...

I trace the dynamic impact of removal of textile quotas in the US on output, employment and plant closure in that industry. A dynamic theoretical model of firm-level decision-making is estimated with US Census manufacturing data and with industry-level demand-side data. Simulations performed...

The effect of advertising on cigarette demand has been widely studied. Yet the demand-advertising nexus is not completely understood and there is little consensus in the literature. This paper sheds new light on the issue by examining the relationship using state-level data for the United States...