How much can demographic changes account for trends in the U.S. economy? This paper shows that a heterogeneous-agent, overlapping-generations model with historical demographic flows can generate several features of the U.S. economy over the past several decades, including a secular decline in economic growth, a rise in savings relative to GDP, a corresponding decline in real interest rates, and, in part, changes in wealth inequality.

This paper lays out one potential step-by-step path toward decarbonizing Saudi Arabia, imagining a sweeping restructuring of a fossil fuel-driven society and economy.

“Charles Duncan represented the very best of his country, his state and his hometown. A native son of Houston, he was a no-nonsense corporate leader and Secretary of Energy for the United States who diligently maintained a laser-like focus on getting things done. Although his career took him around the world, Charles never lost his love for Houston, where he played a critical role as chairman of the Board of Rice University in the creation of the Baker Institute for Public Policy on that campus. My wife Susan and I will greatly miss him, and we send our deepest sympathy to his entire family.”

The Baker Institute for Public Policy mourns the loss of Stephen Chazen, a devoted and visionary member of its Board of Advisors

“A beautiful and bright light of honor, thoughtfulness and elegance went out today with the passing of Queen Elizabeth II, whose 70-year reign was a beacon for her countrymen as well as those in the West who admired her enduring spirit.”

“History will remember Mikhail Gorbachev as a giant who steered his great nation toward democracy. He played the critical role in a peaceful conclusion of the Cold War by his decision against using force to hold the empire together. I found him to be an honest broker and could count on his word despite domestic pressure in Moscow. The free world misses him greatly.”

With conflict on two fronts, and natural gas squarely in the crosshairs, the U.S. LNG industry will be needed to maintain commitments and support allies and trading partners in both Europe and Asia this winter.

To access the full working paper, download the PDF on the left-hand sidebar. 

I. Overview

H.R. 5376, previously known…

Proactive U.S. efforts to enhance Europe’s gas security and blunt Russia’s ability to use gas for hybrid warfare would directly support its ability to sustain and upgrade its combat credibility in East and Southeast Asia. By incentivizing upstream gas investments globally through the demand call associated with a broader European move to replace Russian gas with LNG, gas geoeconomics would over the medium term also help increase global LNG supply to the ultimate benefit of U.S. allies in Asia, foremost among them Japan and South Korea.