The objective of this paper is to show that the investments through the clean development mechanism (CDM) can exert a leverage effect to (i) make attractive to developing countries non-binding commitments and the adoption of national policies and measures; this comes as a guarantee of...

Although a global cap-and-trade system is seen by many researchers as the most cost-efficient solution to reduce greenhouse gas (GHG) emissions, the governments of developing countries refuse to enter into such a system in the short term. Many scholars and stakeholders, including the European...

This article explores the critical role of labour market imperfections in climate stabilization cost formation, using a dynamic recursive energy-economy model that represents a second-best world with market imperfections and short-run adjustment constraints along a long-term growth path. The...