We compare the structure of the financial sectors of the EU27, Japan and the United States, looking at a set of 23 … classified as market-based (MBEU) and the third group is more bank-based (BBEU). We compare US, MBEU, BBEU, Eastern EU and Japan …, MBEU countries are closer to the (market-based) US, while BBEU countries more closely resemble Japan. Paradoxically …

permits. We thus compare a tax and purely domestic tradable permits for the European Union, the U.S and Japan. Information on … for Japan and the U.S., whereas both instruments yield a similar outcome for Europe. Applying Weitzman (1974)'s framework …