This paper investigates the welfare costs of unilateral versus internationally coordinated emission permit policies in a two-country overlapping generations model with producer carbon emissions. We show that, for a net foreign debtor country, the domestic welfare costs of a unilateral domestic...

The paper describes and comments the Italian policies and measures planned to implement the 1997 Kyoto Protocol, with the aim of contributing to the overall reduction of greenhouse gases (GHG) emissions in industrialised countries over the next 10-15 years. The first part of the paper describes...