In this paper we extend a model by A. Ulph (1997) on the relationship between free trade agreements, environmental regulation and trade under imperfect competition. Ulph's model focused on the effectiveness of harmonisation policies against ecological dumping. It turned out that harmonised...

We argue that in an unreliable enforcement regime, transactions tend to become intermediated through institutions or concentrated among agents bound by some form of private enforcement. Provision of funding shifts from risk capital to debt, and from markets to institutions with long term...

The purpose of the paper is to narrow the gap between the widespread use of voluntary agreements and research on the rationale of such approaches. A typical example are voluntary agreements of many industries to reduce carbon dioxide emissions because of global warming. If the industry...

Implementation of policies aimed at reducing atmospheric emissions has drawn attention to the need to integrate policies aimed at protection of the environment into other policy areas such as energy. In this paper we are concerned with the interaction of environmental policies aimed at reducing...

The literature of welfare-maximising greenhouse gas emission reduction strategies pays remarkably little attention to equity. This paper introduces three ways to consider efficiency and equity simultaneously. The first method, inspired by Kant and Rawls, maximises net present welfare, without...

This paper uses a transaction cost approach in order to classify the different policy options that are currently discussed in relation to the Kyoto protocol. It analyses the market as only one of the possible collective decision making processes, which are available to operationalize the concept...

Future emissions of trace gases are intrinsically linked to economic growth and abatement policies, which in turn, are governed by expectations of greenhouse damages. Trace gas indices that depend upon future emissions can be calculated either on the basis of emissions scenarios, such as those...

Questions of burden sharing receive increasing attention in the climate change regime. This paper introduces the WESA-mechanism (WESA = Walrasian Equilibrium with the Stand Alone upper bound) for the fair division of common property resources and monetary compensations. Furthermore, the...

This report summarises the main ideas, proposals, scientific achievements, consensus and conflicting issues that emerged at the Second EFIEA Policy Workshop, held at Fondazione Eni Enrico Mattei, Palazzo delle Stelline, Corso Magenta 63, Milan, Italy, March 4th-6th, 1999. EFIEA, the European...