This report was prepared by Environmental Resources Management (ERM) in the context of the European Commission DG Environment framework contract u0093Financing Capacity for Implementation and Enforcement of Harmonizing Environmental Policy in the NISu0094. The first draft of the report was...

This paper provides background information for the Conference of the Parties to the UNFCCC (COP) and the Conference of the Parties serving as the Meeting of the Parties to the Kyoto Protocol (COP/MOP) in December 2007 in Bali, Indonesia. Significant action is required at the highest urgency to...

The present brochure reflects the main arguments presented at the conference on ‘The Aarhus Convention: how are its access to justice provisions being implemented?’ which was organised by the European Commission in Brussels on 2 June 2008. The basic aim of the conference was to identify the...

While Free Trade Agreements (FTAs) of both, the United States and the European Union, include labor issues in specific chapters, only US FTAs explicitly have “labor chapters,” while the EU FTAs have a general reference to labor rights through the human rights clause and otherwise refer to...

Within a two-step GARCH framework we explore the linkages between equity returns of ten sectors in the euro area, the United States and Japan, respectively. Our estimation framework allows a distinction to be made between spillover effects originating from one of the three currency areas and...

The aim of this paper is twofold. First, for West Germany, France, Italy and US, we econometrically select within a SVAR model some fiscal policy regimes, i.e. a u0094set of rulesu0094 for the implementation of fiscal policies. Second, we identify the fiscal policy shocks related to different...

There has been much discussion of the differences in macroeconomic performance and prospects between the US, Japan and the euro area. Using Markov-switching techniques, in this paper we identify and compare specifically their major business-cycle features and examine the case for a common...

This paper offers an alternative explanation for the behavior of postwar US inflation by measuring a novel source of monetary policy time-inconsistency due to Cukierman (2002). In the presence of asymmetric preferences, the monetary authorities end up generating a systematic inflation bias...