The ?first track? of Joint Implementation under the Kyoto Protocol gives host and investor countries total freedom in choosing a baseline for a project reducing or sequestering greenhouse gases. This is due to the fact that an overly generous granting of emission credits leads to a corresponding...

Research efforts towards new energy sources and towards the efficiency of energy use will be vital to reducing CO2 abatement costs in the long term. Can such efforts be induced by price instruments? Economists often cite induced technological change as a possible consequence of environmental...

The "first track" of Joint Implementation under the Kyoto Protocol gives host and investor countries total freedom in choosing a baseline for a project reducing or sequestering greenhouse gases. This is due to the fact that an overly generous granting of emission credits leads to a corresponding...

A whole bundle of so-called "flexible mechanisms" has been foreseen by the Kyoto Protocol in order to help industrial countries to fulfill their agreed reduction targets in the most cost-effective way. Emission permits will act as the backbone of all market-orientated mechanisms. Therefore,...

This paper analyses the determinants of the size of the informal economy using cross-country regressions. Two sets of global data using indirect estimation techniques and the perception of business leaders for 109 countries as well as a regional set for Latin America based on direct data are...

As GHG emissions did not decline as anticipated early of the 1990ties Carbon Capture and Storage (CCS) recently gained more and more attention as a climate change mitigation option. However, CO2 suppressed in geological reservoirs is likely to lead to future releases of the CO2 stored. This...

After four years of intense negotiations that tethered on the brink of failure, the design of the international climate policy regime that is formed by the U.N. Framework Convention on Climate Change, the Kyoto Protocol and the Marrakesh Accords is now sufficiently clear to be implemented. Apart...

In Kohler (2002) we analyse coalition formation in monetary policy coordination games between n countries. We find that positive spillovers of the coalition formation process and the resulting free-rider problem limit the stable coalition size: since the coalition members are bound by the...

This paper evaluates complementarities of labor market institutions and the business cycle in the context of a stochastic dynamic general equilibrium model economy. Matching between workers and vacancies with endogenous time spent in search, Nash-bargained wages, payroll taxation, and...