Aufgrund der potentiell negativen Folgen des Klimawandels formulieren die politischen Entscheidungsträger z.Z. eine internationale und nationale Klimapolitik, die die THG-Emissionen in den Industrieländern begrenzen wird.

We analyze the effects of free trade on environmental policies in a strategic setting withtransboundary pollution. Trade liberalization can result in a race to the bottom in environmentaloutcomes, making both countries worse off. With command and control policies(quotas), there is no race to the...

We examine the relationship between common sources of airborne pollution and population mortality in present day England. The current air quality limit values are low by both historical and international standards, and these are set at levels which are believed not to be harmful to health. We...

Vorliegendes Arbeitspapier beschäftigt sich mit Alternativen der Ausgestaltung von Übernahmeangeboten und sonstigen öffentlichen Angeboten. Dabei sollen die Beschränkungen der Ausgestaltungsmöglichkeiten durch das Wertpapiererwerbs-und Übernahmegesetz gezeigt werden.

The paper analyzes the existence and impact of …financing constraints as a possiblyserious obstacle to innovation by …firms. Direct measures of fi…nancing constraints areemployed using survey data collected by the Banque de France and Eurostat, whichovercomes the problems with the traditional...

This paper analyzes the investment timing of firms facing two dimensions of financingconstraints: Liquidity constraints and capital market frictions inducing financing costs. We showthat liquidity constraints are not sufficient to explain voluntary investment delay. However, whenadditionally...

[...]This paper studies a simple model of the talent-ownership mismatch — or failure ofmeritocracy — brought about by credit market imperfections that arise as a consequence ofagency problems in the borrower-lender relationship. Our model highlights the interactionbetween the market for...

This paper is an attempt to assess the extent to which the behaviour of anindividual is the result of the constraints that he or she faces – factorsbeyond individual control - or the result of the exercise of his or herpreferences. The study concentrates on participation or non-participationin...

Rapid growth in fuel ethanol production in the U.S. will create pressure on infrastructure both in the near term and the longer term. Currently the vast majority of fuel ethanol produced is grain based with corn based feedstocks dwarfing the quantity of all other grain feedstocks. In the future...

We examine the relationship between participation in non-agricultural labor activities and farming production decisions, focusing on the use of inputs. In particular, we are interested in the hypothesis that income from non-agricultural labor relaxes credit constraints...