This paper introduces a solution for the fair division of common property resources in production economies with multiple inputs and outputs. It is derived from complementing the Walrasian solution by welfare bounds, whose ethical justification rests on commonality of ownership. We then apply...

We explore a global carbon pricing framework to inform the potential coordination of carbon pricing and equivalent policies. The framework has three main features aligning with the current multilateral system for climate action. First, the carbon price is determined by a global average carbon...

The European Commission (2001a) has recently presented a directive proposal to the Parliament and the Council in order to implement a tradable permits scheme. However, as stressed by the positive political economy, due to the influence of various interest groups, very few environmental policies...

Åland Islands, a small Finnish island region with its own governmental powers, is rapidly aging together with its neighboring regions in mainland Finland and Sweden. The demographic momentum affects its labor market in various ways. Aging will keep exits from labor market high in the near...

This study quantifies possible impacts of medium-term structural changes in the global economy on the Austrian economy. Emphasis is placed on the effects of continued medium term growth in emerging markets, especially in Asia and Latin America, on the structure of the Austrian economy. The...

We analyze existing definitions of carbon leakage and propose a new rigorous one. This is then tested using computable general equilibrium analysis for unilateral carbon dioxide abatement programs in the European Union in 2020, adopted under the United Nations Framework Convention on Climate...