The world is in the midst of a major demographic transition. This paper examines the implications of such transition over the next 80 years for Japan, the United States, other industrial countries, and the developing regions of the world using a dynamic intertemporal general equilibrium...

This study reviews early simulations of the effects of German unification using three different rational-expectations multi-country models. Despite significant differences in their structures and in the implementations of the unification shock the models delivered a number of common results that...

The global financial crisis proves how unforeseen macroeconomic conditions can affect policies aimed at reducing and stabilizing greenhouse gas emissions. It has made voters uneasy about potential climate policy that could raise energy costs and unemployment. To improve the political stability...

The Parties to the United Nations Framework Convention on Climate Change continue their efforts to forge a new binding international agreement by 2015. This article proposes to adapt international negotiations to allow for hybrid price and quantity-based commitments. The economic risks...

To estimate the emissions reductions and costs of a climate policy, analysts usually compare a policy scenario with a baseline scenario of future economic conditions without the policy. Both scenarios require assumptions about the future course of numerous factors such as population growth,...

Climate and energy issues will be some of the most urgent challenges facing the next U.S. president. These issues will need immediate attention to create a policy framework that will enable timely reductions in greenhouse gas emissions while minimizing the economic burden on American working...

Under reasonable assumptions, China could achieve parity in living standard with Western Europe by 2100, and India by 2150. Climate change, however, may be a key obstacle preventing such a convergence. The business-as-usual (BAU) growth path of the world might increase concentration of...

To estimate the emissions reductions and costs of a climate policy, analysts usually compare a policy scenario with a baseline scenario of future economic conditions without the policy. Both scenarios require assumptions about the future course of numerous factors such as population growth,...