In a number of papers, McKibbin and Wilcoxen (1997a,1997b,1999) have proposed to tackle rising greenhouse emissions by using an internationally coordinated system of domestic permit trading schemes with a fixed price rather than a fixed cap on greenhouse emissions. This paper argues that early...

In November 2000, just after the presidential elections in the United States, negotiators will meet in The Hague at the sixth meeting of the Conference of the Parties (COP6) to the United Nations Framework Convention on Climate Change (UNFCCC). By then, it will have been almost three years since...

In November 2000, just after the presidential elections in the United States, negotiators will meet in The Hague at the sixth meeting of the Conference of the Parties (COP6) to the United Nations Framework Convention on Climate Change (UNFCCC). By then, it will have been almost three years since...

International negotiations for an agreement to reduce the emission of greenhouse gases are unlikely to produce concrete and comprehensive policies for effective emission reductions in the near term, not least because the policy measures being considered are economically very costly to major...

While the global environment waits for the world to reach some form of agreement on climate policy, developing countries such as India are entering a phase of higher economic growth. The decisions on investment in energy systems that will be made in India in coming years will have an important...

Economic liberalization and financial sector reforms in India commenced in 1990. An important issue currently facing India and the focus of a lively debate, is the question of the appropriate regime for conducting monetary policy in an economy undergoing structural reforms. To add to this...

Southeast Asian industrial exports are facing intense competition from Chinese industrial exports. How much more will competition increase as a result of China's recent accession to the World Trade Organization? Will Indonesia, Malaysia, the Philippines, and Thailand (the ASEAN-4)...

The current weakness in the global economy has generated a debate on the likely outlook for the world economy and the appropriate response for monetary policies. The world economy is currently being buffeted by a number of major shocks. A particular feature has been the large fall in equity...

This paper models the global financial crisis as a combination of shocks to global housing markets and sharp increases in risk premia of firms, households, and international investors in an intertemporal (dynamic stochastic general equilibrium or DSGE) global model. The model has six sectors of...