In the context of a stylised game theoretical framework of capital tax competition, we show that when repeated policy interactions are associated to a systematic punishment of the deviating policymaker, a co-ordinated outcome can be the solution to the non co-operative tax game. This result...

When people share risk in financial markets, intermediaries provide costly enforcement for most trades and, hence, are an integral part of financial marketsu0092 organization. We assess the degree of risk sharing that can be achieved through financial markets when enforcement is based on the...

This report presents an overview of the progress achieved so far by the EU, its Member States and other EEA member countries towards their respective targets under the Kyoto Protocol and the EU burden-sharing agreement. The assessment is based on greenhouse gas emission data in Europe for 2008,...

This report provides an overview of the development of the negotiations within the UNFCCC since COP 17 in Durban. It summarises the key developments in 2011 and provides short overviews for all negotiation areas. The overview also includes a state of play of the Cancún Agreement and explains...

This report provides an overview of the development of the negotiations within the UNFCCC since COP 18 in Doha. It summarises the key developments in 2013 and provides short overviews for all negotiation areas. The overview also includes a state of play of the Doha Climate Gateway and explains...

The impacts of climate change on Europe's environment and society are shown in this report. Past trends in the climate, its current state and possible future changes are presented using 22 selected indicators. For almost all of these a clear trend exists and impacts are already being observed....