The paper examines climate mitigation strategies to reach net-zero emissions by mid-century, focusing on smoothing macroeconomic costs in the short- to medium-term - the horizon relevant for policymakers. It explores a comprehensive policy package, which complements carbon pricing with an...

Australia has a history of fragmented and politically contested climate policy, and current climate policy is both piecemeal and limited in scope and ambition. Ample opportunities exist to reduce emissions through the more broad-based application of policy. This paper outlines six areas where...

This paper explores the failure of countries to coordinate climate policies as an equilibrium outcome of a game where countries optimize in the face of both unprecedented economic and environmental uncertainty. Because issues associated with climate change are historically unprecedented and thus...

The COVID-19 crisis has caused the greatest collapse in global economic activity since 1720. Some advanced countries have mounted a massive fiscal response, both to pay for disease-fighting action and to preserve the incomes of firms and workers until the economic recovery is under way. But...

The primary cause of the East Asian crisis was a fundamental reassessment of the profitability of investments in the region. As a policy response, temporary fiscal expansion generally appears preferable to monetary expansion or to permanent fiscal expansion.McKibbin and Martin identify as the...

The world will experience dramatic demographic change over this century. This paper examines the impacts of this global demographic change on the Australian economy at both the aggregate and sectoral levels in a global multi-region and multi-sector general equilibrium model. Using a detailed...