This paper deals with two related issues: the sustainability of China's exchange rate regime and the opening up of its capital account. The exchange rate discussion deliberately passes over the issue of the "equilibrium" value of the renminbi and its alleged undervaluation - typically at the...

The effectiveness of an emissions trading system in terms of reducing greenhouse gas emissions is mainly due to the magnitude of the specified emission cap. Assuming sufficient control, a quantitative emission target defined in such a way is quasi automatically achieved by the limited allocation...