In a general equilibrium model, international lending through a non-sovereign financial intermediary (a banking system) to a sovereign borrower is analyzed. Under very pessimistic assumptions, including a principal-agency type of incentive to load future intermediation with certain bancrupcy for...

To show global leadership and to foster the international negotiations for a long term international climate regime the EU has decided to reduce its GHG emissions by 20% relative to 1990 until the year 2020. These reductions will even rise to 30% "if there is an international agreement...

The objective of this paper is to assess the likely allocation effects of the current climate protection strategy as it is laid out in the National Allocation Plans (NAPs) for the European Emissions Trading Scheme (ETS). The multi-regional, multi-sectoral CGEmodel DART is used to simulate the...

Land use and land use change are determined as much by economic and institutional drivers as they depend on bio-physical conditions. Future pathways of socio-economic and environmental systems can only be assessed with scenarios which describe possible future paths of development. For this...

“Desert Power 2050” is probably the world’s most ambitious strategy report towards the decarbonization of the power sector in Europe, the Middle East and North Africa (EUMENA). The report inspired by the Desertec vision aims at providing clean energy from MENA’s desert regions to the...

The contribution of biofuels to save greenhouse gas emissions has been challenged over the last years. A still unresolved question is how to quantify emissions from indirect land use change (iLUC). In this paper we review approaches to quantify iLUC-emissions. We conclude that economic...

After the conferences in Bonn and Marrakech it is likely that international emission trading will be realized in the near future. Major influences on the permit market are the institutional detail, the participation structure and the treatment of hot air. Different scenarios do not only differ...