This paper is the text of the key-note speech on macroeconomics given by Christopher Allsopp at the 75th Anniversary Symposium of the Austrian Institute of Economic Research (WIFO) in Vienna on January 23rd 2002. It discusses the role of the European Central Bank, coordination issues between...

While there is some hope that the ongoing climate change negotiations will soon come up with concrete, time scheduled and binding emission reduction commitments, the question of how to achieve these targets is still unsolved. The objective of this paper is to analyse alternative settings of an...