全球智库信息集成服务系统(G2TT): DP1941 Inflation Targeting: What can the ECB Learn from the Recent Experience of the Bank of England

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP1941
	DP1941 Inflation Targeting: What can the ECB Learn from the Recent Experience of the Bank of England
	Michael Artis; Zenon G Kontolemis; Paul Mizen
发表日期	1998-07-31
出版年	1998
语种	英语
摘要	Most-favoured-nation (MFN) trade liberalizations will always improve global economic welfare provided globally optimal environmental, and other, policies are in place. But since the latter proviso is not met in practice, empirical studies of the environmental and resource depletion effects of such reforms are needed to convince sceptics that trade reform is still worthwhile. This paper provides a methodology for doing that. It is illustrated with a case study of Indonesia, a large newly industrializing country that is rich in natural resources and committed to taking part in major multilateral and regional trade liberalizations over the next two decades. A modified version of the global CGE model known as GTAP is used to project the world economy to 2010 and 2020 both with and without those reforms. An environmental module is attached to the Indonesian part of that global CGE model so as to measure the effects of changes in economic activity on air and water pollution. The proportional contributions to environmental indicators of changes in the level and composition of output, and changes in production techniques, are identified. A base case projection without trade reform is compared with alternative scenarios involving full global implementation of Uruguay Round commitments by 2010, and the additional move to MFN free trade by APEC countries by 2020. The study suggests that, at least with respect to air and water, trade policy reforms slated for the next two decades would in many cases improve the environment and reduce the depletion of natural resources and, in the worst cases, would add only slightly to environmental degradation ? even without toughening the enforcement of existing environmental regulations or adding new ones, and even if the reforms stimulate a faster rate of economic growth.
主题	International Trade and Regional Economics
关键词	Global cge model Indonesia Trade and environment
URL	https://cepr.org/publications/dp1941
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/531073
推荐引用方式 GB/T 7714	Michael Artis,Zenon G Kontolemis,Paul Mizen. DP1941 Inflation Targeting: What can the ECB Learn from the Recent Experience of the Bank of England. 1998.