This study reviews, from both a theoretical and empirical perspective, the links between composition and quality of public finances, on the one hand, and long-term economic growth, on the other, focusing on the EU-15 countries. Specifically, for a given level of the general government balance,...

The burden sharing of pollution abatement costs raises the issue of how to share the costs between entities (country, region or industry) and how the pollution permits should be distributed between the parties involved. This paper explores this issue in the framework of a dynamic endogenous...

The purpose of this article is twofold: First to discuss three misconceptions in the debate on climate policies: i) that de-growth is necessary, ii) that the market economy is part of the problem rather than part of the solution to climate change, and iii) that the only policy tool needed is to...

This paper is designed to provide comprehensive details on the carbon markets across the major Asian economies and with specific attention to the Chinese carbon market. We particularly discuss the carbon markets across the major northeast (the People's Republic of China [PRC], Japan, and the...

This paper uses a dynamic general equilibrium model with overlapping generations in order to analyse and to compare emissions taxes and tradeable emissions permits. Even in the context of a perfect environment, i.e. with perfect information, perfect competition..., it is shown that privately...

We derive the optimal contributions to global climate policy when countries differ with respect to income level and pollution intensity. Countries' growth rates are determined endogenously, and abatement efficiency is improved by technical progress. We show that country heterogeneity has a...