Currently, international climate negotiations concentrate on design issues for the flexible instruments outlined in the Kyoto Protocol. As the 6th Conference of the Parties to the U.N. Framework Convention on Climate Change in late 2000 or early 2001 has to take decisions on these matters, it is...

The future international climate policy architecture will most likely consist of partial climate policy initiatives like the EU's Emission Trading System. Trade integration threatens to undermine these systems' environmental effectiveness by shifting emissions to other countries. We estimate a...