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Why have policies aimed at reducing the demand for carbon not succeeded in slowing down global carbon extraction and CO2 emissions, and why have carbon prices failed to increase over the last three decades? This comment argues that this is because of the Green Paradox, i.e. - (the anticipation...
Persistent link: https://www.econbiz.de/10010528868
We build a two-sector dynamic general equilibrium model with one-sided substitutability between fossil carbon and biocarbon. One shock only, the discovery of the technology to use fossil fuels, leads to a transition from an initial pre-industrial phase to three following phases: a pure fossil...
Persistent link: https://www.econbiz.de/10009683169
Europe and to variations in the demand for black money balances in Europe as a whole. We reject the view that the strength of …
Persistent link: https://www.econbiz.de/10011398903
extended Europe which incorporates the east European countries. …
Persistent link: https://www.econbiz.de/10009786718
The forces of the market and systems competition bring about economic and social convergence in Europe. There is no … economic convergence. National welfare states will be threatened by the free migration of people in Europe. The race to the … bottom is a serious risk. However, to contain this risk, neither harmonisation of welfare payments nor constraints on …
Persistent link: https://www.econbiz.de/10011507973
Europe. Although migration is good in principle, as it yields gains from trade and specialization for all countries involved … state. This is not the present state of affairs in Western Europe. In addition to measures that make labour markets more …
Persistent link: https://www.econbiz.de/10002523041
The eastern expansion of the EU resembles German unification in its mometousness. Whereas the latter led to a 26% increase in the population of the Federal Republic, the former will increase the population of the EU by 28% if all ten entry aspirants are accepted. A special problem will be posed...
Persistent link: https://www.econbiz.de/10009781584
The rules laid down in Article 32 of the Protocol No. 18 on the Statute of the European System of Central Banks and of the European Central Bank of the Maastricht Treaty will significantly redistribute European seignorage income and hence the implicit entitlement to the 352 billion stock of...
Persistent link: https://www.econbiz.de/10009781634
unification and points out the lessons to be learned by Europe. The analysis concludes with a brief discussion of the second best …
Persistent link: https://www.econbiz.de/10009781677
While the formal decision of the ECB Council to impose interest on Target claims and liabilities is meaningless, this paper shows that the pooling of primary interest income among national central banks in the Eurozone implies that Target and cash balances do, in fact, bear an effective rate of...
Persistent link: https://www.econbiz.de/10012110196