Three computable general equilibrium models are used to estimate the economic implications of a stylized version of EU …, however, that the distortions introduced by total EU package imply a substantial welfare loss over and above the costs needed …

Starting in 2005, the EU will implement a CO2 emissions trading scheme. In this paper we show that the outspoken goals … harmonization, i.e. for identical assignment factors to similar firms located in different EU countries …