We show how in a Blanchard-Yaari, overlapping generations framework, perfect substitutability of government bonds in Monetary Union tempts governments to exploit the enlarged common pool of savings. In Nash equilibrium all governments increase their bond financed transfers to current generations...

This paper analyzes the efficiency of risk-taking decisions in an economy that is prone to systemic risk, captured by financial amplification effects that occur in response to strong adverse shocks. It shows that decentralized agents who have unconstrained access to a complete set of Arrow...

In the case of Maritime Spatial Planning, the European Commission aims to support its Member States with a tool that enables their maritime economies to grow sustainably. This implies minimum conflicts between economic activities AND other economic or human activities, whilst a good...

This report highlights the connections between the different dimensions of quality of life and analyzes the inherent causal relationships. These range from clear linkages such as the health benefits of green open space for urban populations to less evident relationships such as the way that...

TAC = Total Allowable Catches

This first edition of Environmental signals marks the beginning of a new period in reporting on the environment for policy-makers and the public by the European Environment Agency. Previous reports such as Europe's environment: the second assessment and Environment in the European Union at the...

Environmental signals 2001 is the second issue in the series of regular indicator-based reports roduced by the European Environment Agency for high-level policy-makers in EEA member countries and the European Union. The main aim is to present key environmental indicators in order to report, on a...

Environmental signals 2001 is the second issue in the series of regular indicator-based reports roduced by the European Environment Agency for high-level policy-makers in EEA member countries and the European Union. The main aim is to present key environmental indicators in order to report, on a...

Environmental signals 2001 is the second issue in the series of regular indicator-based reports roduced by the European Environment Agency for high-level policy-makers in EEA member countries and the European Union. The main aim is to present key environmental indicators in order to report, on a...

he following report, carried out with the support of Garrigues & Andersen, is an in-depth study of the reporting obligations outlined in the framework of the Barcelona Convention on the Protection of the Mediterranean Sea Against Pollution (Barcelona Convention). The report is one of three that...