This paper measures the distortionary and distributional effects of housing subsidies in the Netherlands. Its broad scope allows us to discuss the results in the light of the main justifications for subsidising housing, i.e. the merit-good argument, external effects and the distribution motive....

From 16 to 19 January at RANEPA Gaidar forum was held - the largest discussion forum, where the elite of government, business and fundamental science discussed vectors of development of the world economy. This year the main topic of the international conference were the issues of integration of...

After an impressive acceleration in growth and poverty reduction since the mid-1990s, many African countries continue to register robust growth in the aftermath of the global financial crisis. Will this growth persist, given the tepid recovery in developed countries, numerous weather shocks, and...

This paper analyzes the evolution of sovereign credit ratings in the wake of the global financial crisis by studying changes in actual, shadow, and relative ratings between 2008 and 2012. For countries that do not have a rating from the major rating agencies, shadow ratings are estimated as a...

Aging of populations and convergence between developed and developing countries in per capita incomes are shaping the evolution of saving, investment, capital flows, and, in particular, the cost of capital. When considering these trends, the existing literature argues for either continued, low...

From 16 to 19 January at RANEPA Gaidar forum was held - the largest discussion forum, where the elite of government, business and fundamental science discussed vectors of development of the world economy. This year the main topic of the international conference were the issues of integration of...

This paper analyzes the economic impact of mitigation policies that lead to stabilization of CO<Subscript>2</Subscript> concentrations at levels of 550 and 450ppmv, respectively. We succes-sively use each of the four new IPCC scenarios as a baseline. We analyze the impact of two different mitigation paths to the same...</subscript>

The Kyoto Protocol suggests that imposing restrictions on emission trade among Annex I countries may force domestic action in each country. The Protocol also mentions the Clean Development Mechanism (CDM) as On instrument to extend trade to countries outside Annex I. We analyze both restrictions...