For the first time, the Protocol negotiated by the third Conference of the Parties to the U.N. Framework Convention on Climate Change in Kyoto sets legally binding emission targets for the commitment period 2008-2012 for the industrial countries and countries in transition listed in Annex I....

In der WTO wird in erster Linie der Wettbewerb zwischen Staaten geregelt. Es werden Anreize für die Staaten geschaffen, den eigenen politischen Handlungsspielraum einzuschränken. Dies kann zweierlei bedeuten: - die Handelspartner verzichten auf Versuche, Wohlfahrtsgewinne für das eigene Land...

This study has investigated to which extent rating events influence sovereign bond yield spreads and overall financial market volatility. While rating agencies are part and parcel of today's financial markets, the study succeeds in tracing some independent effect that ratings exert on financial...

Klimapolitik ist aufgrund der Vielfalt der direkt betroffenen Akteursgruppen, ihrer globalen Reichweite und ihres extrem langen Zeithorizonts besonders anfällig für Verzerrungen durch Interessengruppen. Daher ist die Theorie der Neuen Politischen Ökonomie gut geeignet, die klimapolitische...

Greenhouse gas (GHG) removals by afforestation and reforestation project activities under the Kyoto Protocol's Clean Development Mechanism (CDM) are vulnerable to a variety of risks and uncertainties, resulting in the partial or total reversal of such removals. Hence, GHG removals from these...

The details on rules and modalities for the inclusion of forestry projects in the Clean Development Mechanism (CDM) are one of the last non resolved implementation issues of the Kyoto Protocol. We examine in detail the implications of different policy decisions concerning the inclusion of CDM...