Measuring Weak Sustainability for the future: Calculating Genuine Saving with population change by an integrated assessment model

This paper presents a future figure of Genuine Saving with population growth (GSn). This was enabled by using an integrated assessment model, similar to the RICE model by Nordhaus. The model consists of sub-models that evaluate various kinds of mineral resources and environmental impacts. Results indicates that GSn is positive i) in OECD during the 21st century, ii) in World and the former Soviet Union and East Europe after 2030, and iii) in Asia and the Middle East and Africa after 2050. GSn is negative in Latin America during the 21st century.Genuine Saving, population change, sustainability, integrated assessment model, impact assessment model, growth model

Time-Varying Agglomeration Externalities in UK Counties between 1841 and 1971

Using dynamic panel data methods on UK counties (1841-1971), we investigate long-term employment dynamics in seven distinct local industries. We study how industries benefit from specialised environments (MAR), diverse local economies (Jacobs’) and large local markets (urbanization), and, in contrast to most other authors, test if the strength of MAR, Jacobs’ and urbanization externalities changes over time. We find declining MAR and rising Jacobs’ externalities since the mid-nineteenth century, questioning the adequacy of a static framework when studying agglomeration externalitiesagglomeration, dynamic externalities, Jacobs’ externalities, MAR externalities, urbanization externalities

"Global Warming and Transport Policies"

The Japanese government has advocated a wide range of policy measures to reduce greenhouse gas emissions from transportation, e.g. improvements of gas mileage, development of alternative fuel vehicles, shifts to walking, bicycles and public transportation for passenger transportation and to trains and ships for cargos, greening of highways. The details of these policies and their effectiveness are not clear, however. Furthermore, virtually no analysis has been provided on the costs and benefits of these policy measures. Unfortunately, the Japanese government has been slow to develop the data infrastructure needed for such an evaluation. This article reviews the studies conducted in the U.S. and Europe, and examines what sort of research is necessary in Japan.

Measuring Weak Sustainability for the future: Calculating Genuine Saving with population change by an integrated assessment model

This paper presents a future figure of Genuine Saving with population growth (GSn). This was enabled by using an integrated assessment model, similar to the RICE model by Nordhaus. The model consists of sub-models that evaluate various kinds of mineral resources and environmental impacts. Results indicates that GSn is positive i) in OECD during the 21st century, ii) in World and the former Soviet Union and East Europe after 2030, and iii) in Asia and the Middle East and Africa after 2050. GSn is negative in Latin America during the 21st century

Bank capital standards for foreign exchange and other market risks

The Basle Committee on Banking Supervision has proposed methods for incorporating consideration of market risks--exchange rate, interest rate, and equity price risks--into risk-based capital standards for banks. This paper shows that the separate and seemingly different proposed approaches to the three sources of risk are consistent with one another, reflecting a single unifying theme. That theme is the measurement of risk through a weighting of two different measures of portfolio size, the gross position and the net position. A simple theoretical model demonstrates that such an approach can be viewed as a simple (specifically, an affine) approximation to a portfolio variance calculation based on the full variance-covariance matrix of market returns, and thus provides a reasonable basis for a practical approach to capital standards. An empirical test of one part of the framework, the proposal for exchange rate risk, shows that the approximation may be very accurate: the proposed Basle approach captures over 95 percent of the variation in foreign exchange risk across a sample of banks from the Twelfth Federal Reserve District.Bank capital ; Risk ; Foreign exchange

Public sector pricing policies : a review of Bank policy and practice

Nearly a decade has passed since the Bank codified its position on cost recovery policies (OMS 2.25) for public sector projects. In a review of 13 sectors, the authors find that the Bank guidelines are followed fairly closely in seven sectors: coal, irrigation, oil/gas, power, roads, telecommunications, and water/sewerage. In the other six sectors the focus is heavily on either distributional (health, education, housing) or financial (fertilizer, ports, railways) concerns - with little attempt to incorporate economic pricing principles. Efficiency pricing is not irrelevant or impossible in these sectors, and - even if used only as a benchmark - could improve sector management and project selection and design.Environmental Economics&Policies,Economic Theory&Research,Health Monitoring&Evaluation,Public Sector Economics&Finance,Banks&Banking Reform