The views expressed herein are those of the authors and do not necessarily reflect those of the Massachusetts Institute of Technology. a b s t r a c t a r t i c l e i n f o JEL classifications: Q43 Q48 Q56 Q58 Keywords: Green growth Green economy UNEP OECD " Green growth " is an attractive slogan with a variety of possible meanings. This essay critically examines several potential meanings of t...

a r t i c l e i n f o JEL classification: F1 F4 Q43 N75 Keywords: Oil price shock Trade balance VAR Granger non-causality test Gregory-Hansen cointegration test This study aims to examine whether a large part of the variability of trade balances and their oil and non-oil components is associated with oil price fluctuations. The long-run causality running from oil price to overall, oil and non-o...

To understand the potential impacts of China’s accession to WTO on her new desulphur policy (gradual reduction of 10% of annual SO2 emission by 2005 with respect to that of 2000), we construct a CGE model in which SO2 emission is directly linked to energy input consumption in production. The model equally considers the substitution possibility between energies of different SO2 effluent ratios b...

a r t i c l e i n f o JEL classification: C33 G10 O49 Q43 Keywords: Oil prices Stock market depth Economic growth Other macroeconomic variables Panel VAR Granger causality G-20 countries This paper examines the linkages between economic growth, oil prices, depth in the stock market, and three other key macroeconomic indicators: real effective exchange rate, inflation rate, and real rate of inte...

A b s t r a c t a r t i c l e i n f o JEL classification: C23 G15 Q43 Keywords: Asymmetric effects International stock markets Oil prices Panel data Oil price volatility Although studies have found an asymmetric pattern in the response of aggregate output to oil price changes, parallel studies in stock markets have not been conclusive about their existence. This paper finds evidence that effect...

a r t i c l e i n f o Available online xxxx JEL classification: G15 O13 Q43 Keywords: Psychological barriers Clustering WTI Brent Multiple hypothesis testing WTI and Brent futures are tested for the presence of psychological barriers around $10 price levels, applying a multiple hypothesis testing approach for statistical robustness. Psychological barriers are found to be present in Brent prices...

a r t i c l e i n f o JEL classification: Q43 Q54 C68 D58 H50 H68 Keywords: Fuel prices Endogenous growth Budgetary consolidation Climate policy Dynamic general equilibrium Portugal This paper examines the influence of fossil fuel prices on carbon dioxide emissions, economic activity, and the public sector account in Portugal. It uses a dynamic general equilibrium model which highlights the mec...