Why has the EU been so eager to continue the climate negotiations? Can it be solely attributed to the EU feeling morally obliged to be the main initiator of continued progress on the climate change negotiations, or can industrial inter-ests in the EU, at least partly, explain the behaviour of...

The purpose of this paper is to analyse whether the presence of Hot Air trading jeopardizes the environmental target of an international environmental agree-ment. We argue that Hot Air can be used as an implicit side-payment mecha-nism to actually bring about higher environmental protection...

Our theoretical model suggests that ‘bureaucratisation’ is a potential threat to future economic growth in the EU. The bureaucratic incentives to budget maximize leads to overwhelming pressure for new administrative tasks because bureaucracies are competing for resources just like fishermen...

The EU Commission has recently proposed a new directive establishing a framework for greenhouse gas (GHG) emissions trading within the European Union. The idea is to devalue the emission quotas in circulation by the year 2012 at latest, so that the EU will meet its Kyoto target level of an 8%...

Why did the climate negotiations in The Hague fail? Our contribution is to argue that the conflict between the European Union and the United States stems mainly from disagreement on the cost issue. We argue that three main concerns promoted by the European Union in The Hague, i.e. a 50% national...