Friedl, Birgit; Farmer, Karl - In: CESifo economic studies : CESifo, a joint initiative of … 57 (2011) 3, pp. 432-457
This article compares nationally optimal to internationally optimal (Pareto efficient) emission permit levels in a two … one a net foreign debtor, it is nationally optimal for the creditor country with sufficiently high environmental … not Pareto efficient. Depending on the direction and strength of the countries' differences in external balances and …