This paper studies the role of expectations and monetary policy in shaping the response ofthe economy to climate actions. We show that in a stochastic environment and without thestandard assumption of perfect rationality of agents, there is more uncertainty regardingthe time-path and the impact...

This paper studies the role of expectations and monetary policy on the economy’s response to climate actions. We show that in a stochastic environment and without the standard assumption of perfect rationality of agents, there is more uncertainty regarding the path and the economic impact of a...

The ability to explain the development of supply, demand, and prices of commodities (especially agricultural and energy commodities) is essential for policy-makers around the globe for several reasons since they represent an essential part of the consumption baskets. Moreover, energy and...

assessing the decreasing role of geographical distance (as a result of globalisation) in the world economy spatial econometric techniquesDecreasing role of distance increasing importance of financial openness as channel of spillovers aross countries

Rare Earths are a group of 17 metals which were presumably unknown to the vast majority of people until very recently. The combination of growing demand and tightened export restriction by China, which holds almost monopolistic power in their supply, has led to massive price increase in 2011....

The introduction of unilateral climate policies, and the absence of a climate constraint in many parts of the world raise questions about the distortions in competitiveness and CO2 leakage that may result. Therefore, proposed climate policies are often accompanied by corrective measures intended...

Our modelling team uses both partial and general equilibrium models to investigate trade and policy reforms scenarios, e.g. CAP reform, FTAs, WTO, and their impact on the agricultural sector, with particular emphasis in the UK. General Equilibrium (GE) models are used in areas where a...

Today, China is the world’s leading gold producer and its second largest consumer. Traditionally imposing strict regulations on its gold market, China has ushered in a process of liberalisation a decade ago, encouraging individual gold trading, gold import and export. A boom in domestic demand...

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Purpose – The purpose of this paper is to investigate the information content of the variables that can help detecting external and internal imbalances in an early stage. The starting point is the Scoreboard, where nine indicators are chosen in order to increase macroeconomic surveillance of...