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OECD Economic Studies No. 19, Winter 1992. By modeling the decisions of households and firms, applied general equilibrium (AGE) models are able to capture the economic mechanisms that link, in each period of time, the available resource base to man-made emissions of CO2. The OECD Economics Department has developed a global dynamic AGE model with the objective of quantifying the economic effects of policies aimed at reducing
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This paper reports the results of several simulations with the OECD's GREEN model designed to quantify the economy-wide and global costs of a range of international agreements to curb carbon dioxide (CO2) emissions. OECD Economic Studies No. 19.
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This paper summarises the results of an exercise in comparing the properties and predictions of GREEN and five other global models that have been developed in major energy and applied economic research centres. OECD Economic Studies No. 19.
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Economics Department Working Paper 124. This paper describes the de facto economic integration taking place between China, Hong Kong China and Chinese Taipei - the "Chinese Economic Area" - and analyses basic factors underlying the process. Even in the face of weak economic performance in OECD countries the integration has helped underpin rapid growth in all three economies, particularly in China's south-eastern provinces. If Chinese
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There is little evidence that so-called "credibility effects" have altered the trade-off between inflation and employment for countries that have adhered to the exchange rate mechanism of the European Monetary System. OECD Economic Studies No. 18.
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Econometric testing suggests that the trend towards increasing volatility of equity prices has not had strong effects on economic activity. OECD Economic Studies No. 17.
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An examination of factors underlying saving, investment and real interest rates over recent decades suggests that high real interest rates over recent decades suggests that high real interst rates may continue to prevail. Is this a cause for concern? OECD Economic Studies No. 17.
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Econometric tests do not support the standard theories of investment demand. Therefore policies based on these theories may be ineffective. OECD Economic Studies No. 16.
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The rapide progress of financial market deregulation has been accompanied by new and longer-run challenges for monetary policy. OECD Economic Studies No. 15.
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A flow measure suggests that the growth of global portfolios could continue to translate into an important demand for new dollar assets, albeit not sufficient to cover fully the expected financing need. OECD Economic Studies No. 15.