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Here I review the fiscal costs of carbon pricing and climate policies, paying due attention to second-best as well as first-best polies. This starts with a discussion of when the double dividend hypothesis, i.e. when recycling carbon taxes via lower income taxes boosts employment and lowers the...
We examine the theoretical and numerical properties of a prototypical New Keynesian DSGE model featuring endogenous capital accumulation and labour supply. We find that this completely conventional model yields implausible impact results following unanticipated and temporary shocks when the...
The withdrawal of the United Kingdom from the European Union has had disruptive effects on international trade. As part of its ‘Global Britain’ strategy in the wake of Brexit, the UK is pursuing a series of Free Trade Agreements with countries around the world, including Canada, Japan, Korea,...
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