The authors suggest a multi-layered system of three convergence criteria – similar to those used in the run-up to the European monetary union – that define the notion of „demonstrable progress“ towards reaching the emission commitments under the Kyoto Protocol. These are the existence of...

The Kyoto Protocol sets legally binding emission targets for industrialized countries without accounting for reductions carried out prior to 2008, the beginning of the first commitment period. There exists only one exception, the project-based Clean Development Mechanism. Two other possible ways...

A whole bundle of so-called „flexible mechanisms“ has been foreseen by the Kyoto Protocol in order to help industrial countries to fulfil their agreed reduction targets in the most costeffective way. Emission permits will act as the backbone of all market-orientated mechanisms. Therefore,...

Vor dem Hintergrund der EU-Ziele zur Digitalisierung und den sehr unterschiedlichen Entwicklungen in den Mitgliedsstaaten sind zukünftig erhebliche Anstrengungen zum Ausbau leistungsfähiger Kommunikationsnetze erforderlich. Im Rahmen einer ökonometrischen Analyse wird untersucht, welche...

This paper presents the first comparative analysis of the relationship between natural gas storage utilization and price patterns at three major European trading points. Using two indirect tests developed by (Fama and French, 1987) and (Fama and French, 1988) that are applied in other commodity...

The authors suggest a multi-layered system of three convergence criteria - similar to those used in the run-up to the European monetary union - that define the notion of "demonstrable progress" towards reaching the emission commitments under the Kyoto Protocol. These are the existence of an...

Transaction costs will reduce the attractiveness of the Kyoto Mechanisms compared to domestic abatement options. Especially the project-based mechanisms CDM and JI are likely to entail considerable costs of baseline development, verification and certification. The AIJ pilot phase and the PCF...