This paper builds a two-country, two-sector (polluting, nonpolluting) trade model with directed technical change, examining whether unilateral environmental policies can ensure sustainable growth. The polluting good generates more or less emissions depending on its relative use of a clean and a dirty input. I show that a unilateral policy combining clean research subsidies and a trade tax can e...

Nowadays, the LNG market is a derivative of traditional gas and has certain advantages over pipeline supplies. Many countries, including Russian Federation, are trying to consolidate their positions in relatively new growing market. In paper, Sino-Russia Energy strategy perspectives until 2030 being analyzed detail. The authors analyze Arctic case as most crucial for both countries’ collaborati...

Cross country studies of in‡ation di¤erentials, and in particular in the EMU, have focused on three main explanations: (i) the role of tradable and nontradable sector productivity growth di¤erentials and the BalassaSamuelson e¤ect, (ii) the role of the demand-side e¤ects, and (iii) heterogeneity of in‡ationary processes inside the EMU. To understand the role played by each feature in shaping in...

We provide a theory of the determination of exchange rates based on capital flows in imperfect financial markets. Capital flows drive exchange rates by altering the balance sheets of financiers that bear the risks resulting from international imbalances in the demand for financial assets. Such alterations to their balance sheets cause financiers to change their required compensation for holding...

Identification of New Keynesian Phillips Curves from a Global Perspective New Keynesian Phillips Curves (NKPC) have been extensively used in the analysis of monetary policy, but yet there are a number of issues of concern about how they are estimated and then related to the underlying macroeconomic theory. The first is whether such equations are identified. To check identification requires spec...

One of the most striking aspects of the recent recession is the collapse in international trade. This paper uses disaggregated data on U.S. imports and exports to shed light on the anatomy of this collapse. The paper finds that the recent reduction in trade relative to overall economic activity is far larger than in previous downturns. Information on quantities and prices of both domestic absor...

In investigating criminal cases of poaching and smuggling involving tigers (Panthera tigris), the number of tiger individuals involved is critical for determining the penalty. Morphological methodologies do not often work because tiger parts do not possess the distinctive characteristics of the individual. Microsatellite DNAs have been proved a reliable marker for the individualization of anima...