The literature of welfare-maximising greenhouse gas emission reduction strategies pays remarkably little attention to equity. This paper introduces various ways to consider efficiency and equity simultaneously. Lower (higher) discount rates lead to higher (lower) emission reduction. Higher (lower) inequity aversion leads to higher (lower) emission abatement, unless one also considers the negati...

Note The purpose of this series of studies is to analyse policy issues and to stimulate discussions in the area of international trade and development. The series includes studies by UNCTAD staff and by distinguished researchers from other organizations and academia. This paper represents the personal views of the author only, and not the views of the UNCTAD secretariat or its member States. Th...

Terrestrial vegetation sinks have entered the Kyoto Protocol as offsets for anthropogenic greenhouse gas emissions, but ocean sinks have escaped attention. Ocean sinks are as unexplored and uncertain as were the terrestrial sinks at the time of negotiation of the Kyoto Protocol. It is not unlikely that certain countries will advocate the inclusion of ocean carbon sinks to reduce their emission ...

We theoretically illustrate how macroprudential policy spillovers through international capital flows can lead to uncoordinated policy choices that are tighter than would occur with coordination. We consider a symmetric two-country macro model in which countries have limited ability to issue state-contingent contracts in international markets. Accordingly, output endogenously depends on the rel...

C. Fred Bergsten is the director of the Peter G. Peterson Institute for International Economics. He was assistant secretary for international affairs of the US Treasury (1977–81) and assistant for international economic affairs at the National Security Council (1969–71). He was chairman of APEC’s Eminent Persons Group, which developed the initial blueprint for the organization’s trade policy st...

I n the past many decades, breakdown, maintenance and replacement issues of deteriorating machines and systems are extensively studied within the literature. A number of maintenance and replacement models, techniques and policies are created, documented and tested. However, of these models are comprised of some classes ∗M.Tech. Student, Department of Mechanical Engineering, Madhav Institute of ...