As the world’s second largest carbon emitter, China has long been criticised as a “free-rider” enjoying benefits from other countries’ efforts to abate greenhouse gas emissions but not taking due responsibilities of its own. China has been singled out as one of the major targets at the...

Using a world multi-sectoral, multi-regional trade model, this paper has investigated the economic and environmental implications of climate control coalitions cooperating on R&D investment that triggers low cost environmentally friendly technologies. We start with the Kyoto scenario where all...

An increase in energy prices will decrease fossil fuel consumption; on the other hand, the cost-push will encourage technology improvement for firms and households. These changes will affect the emission level. This paper studies the changes in yearly pollutant emissions after an energy price...

A country’s existing emission standard policy will lead to a “lock in” effect. When the country plans to adopt new market-based instruments to control greenhouse gas emissions, it must consider this effect as it chooses among instruments to avoid larger efficiency loss. In this paper, we...

The development of oil and gas extraction technologies, including hydraulic fracturing (fracking), has increased fossil fuel reserves in the US. Despite benefits, uncertainty over environmental damages has led to fracking bans, both permanent and temporary, in many jurisdictions. We develop a...

Using the consumption equivalent welfare gain as social welfare and assuming an automation technology shock, we derive the optimal tax rates for various tax policy instruments in the steady state of the model economy calibrated for the U.S. We find that the optimal capital income tax rate lies...

We analyse the macroeconomic impact of the European cohesion policy investments deployed during the 2014-2020 programming period on the basis of simulations carried out with the spatial dynamic general equilibrium model called RHOMOLO. We use the latest data on actual expenditures including the...

We provide a macroeconomic evaluation of the impact of the 2014-2020 European Social Fund, the Youth Employment Initiative and the labour market interventions of the REACT-EU programme, using data updated to the end of 2023. We use the spatial dynamic general equilibrium model RHOMOLO, modified...

The European Union and Mercosur have started negotiations in 1995 with the signature of the “EU-Mercosur Interregional Framework Co-operation Agreement”. In spite of sixteen round of negotiations and a propitious textbook for trade relationships (complementary intra and inter-sectoral,...