The Kyoto Protocol marks a break-through in global warming mitigation policies as it sets legally binding emissions targets for major emitting regions. However, realisation of the Protocol depends on the clarification of several issues one of which is the permissible scope of international...

In this paper we investigate how restrictions for emission trading to the energy-intensive power sector will affect the magnitude and distribution of abatement costs across EU countries vis-à-vis a comprehensive EU emission trading regime. We find that emission trading between European power...

In this paper, we investigate whether an environmental tax reform 'cum' joint implementation (JI) provides employment and overall efficiency gains as compared to an environmental tax reform 'stand-alone' (ETR). We address this question in the framework of a large-scale general equilibrium model...

Our paper deals with the welfare and employment effects of green tax reforms. In the first part we develop a flexible, interactive simulation model which is accessible under http://brw.zew.de. Users can specify their own green tax reforms or emission quotas and quantify welfare and employment...

This paper investigates the implications of U.S. withdrawal on environmental effectiveness, economic efficiency, and the distribution of compliance costs taking into account market power of the Former Soviet Union (FSU) on emission permit markets. While exercise of market power on behalf of FSU...

The allocation of emission entitlements across countries is the single most controversial issue in international climate policy. Extreme positions within the policy debate range from entitlements based on current emission patterns (CEP) to equal-per-capita (EPC) allocations. Convergence (COV)...

This paper introduces a solution for the fair division of common property resources in production economies with multiple inputs and outputs. It is derived from complementing the Walrasian solution by welfare bounds, whose ethical justi?cation rests on commonality of ownership. We then apply...