10,518 research outputs found

    Carbon Footprint Labeling Activities in the East Asia Summit Region: Spillover Effects to Less Developed Countries

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    Abstract: This paper discusses carbon footprint (CFP) labeling activities in the East Asia Summit (EAS) region with a focus on their spillover effects on less developed countries (LDCs). Due to increased and increasing economic integration, implementation of CFP labeling schemes in one country will have significant impact on others. The impact is particularly significant for LDCs in the EAS region because: the EAS production networks are highly integrated, which provide necessary condition for the spill-over effects to be generated; LDCs generally lack the capacity to measure and label CFP of their products; and exports from LDCs often produced by relatively small producers. However, the effective inclusion of LDCs in labeling schemes may offer more and cost-effective opportunities for carbon emission reductions. The presence of spillover effects means that countries that are implementing carbon labeling schemes need to take stakeholders outside of their boundaries into consideration. The disadvantages of LDCs can be reduced by well designed carbon labeling schemes, by innovative solutions to low cost data collection and certification, and by technical transfer, training and capacity building.

    Renewable energy target scheme report of the expert panel

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    An examination of the operation, costs and benefits of the RET, including the economic, environmental and social impacts, the extent to which the objectives of the scheme are being met and the interaction of the RET with other Commonwealth and state and territory policies. Introduction The Review of the Renewable Energy Target (RET) scheme was jointly announced by the Hon Ian Macfarlane MP, the Minister for Industry, and the Hon Greg Hunt MP, the Minister for the Environment, on 17 February 2014. The Terms of Reference state that the review is to examine the operation, costs and benefits of the RET scheme including the economic, environmental and social impacts, the extent to which the objectives of the scheme are being met and the interaction of the RET with other Australian Government and state and territory government policies. The review is to provide advice on whether the objectives of the RET scheme are still appropriate and the range of options available for reducing its impact on electricity prices

    Lender of Last Resort and Bank Closure Policy

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    During the last decades a consensus has emerged that it is impossible to disentangle liquidity shocks from solvency shocks. As a consequence the classical lender of last resort rules, as defined by Thornton and Bagehot, based on lending to solvent illiquid institutions appear ill-suited to this environment. We summarize here the main contributions that have developed considering this new paradigm and discuss how institutional features relating to bank closure policy influences lender of last resort and other safety net issues. We devote particular emphasis to the analysis of systemic risk and contagion in banking and the role of the lender of last resort to prevent it.lender of last resort, systemic risk, contagion, bank closure, liquidity, discount window

    Firms, Courts, and Reputation Mechanisms: Towards a Positive Theory of Private Ordering

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    This Essay formulates a positive model that predicts when commercial parties will employ private ordering to enforce their agreements. The typical enforcement mechanism associated with private ordering is the reputation mechanism, in which a merchant community punishes parties in breach of contract by denying them future business. The growing private ordering literature argues that these private enforcement mechanisms can be superior to the traditional, less efficient enforcement measures provided by public courts. However, previous comparisons between public and private contractual enforcement have presented a misleading dichotomy by failing to consider a third enforcement mechanim: the vertically integrated firm. This Essay develops a model that comprehensively addresses three distinct types of enforcement mechanisms--firms, courts, and reputation-based private ordering. The model rests on a synthesis of transaction cost economics, which compares the efficiencies of firms versus markets, and the private ordering literature, which compares the efficiencies of public courts versus private ordering. It hypothesizes that private ordering will arise when agreements present enforcement difficulties, high-powered market incentives are important, and the costs of entry barriers are low. The Essay then conducts an illustrative test by comparing the model\u27s predictions to documented instances of private ordering

    Bank crisis resolution and foreign-owned banks

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    In many countries in recent years, failure to efficiently resolve large insolvent banks has come at a high cost both to taxpayers and to the countries’ aggregate income. The increasing entry of foreign banks has complicated the resolution process. ; This article explores some special problems in the efficient resolution of insolvent banks raised by cross border banking, particularly weighing the costs and benefits of foreign bank entry via branches versus subsidiary banks. These problems lie primarily in the cross country differences in both the closure rule and the deposit insurance structure. ; The authors propose a four-point program for resolving insolvent institutions efficiently but note that the presence of foreign-owned banks may make adhering to these principles difficult. To mitigate these problems, the authors propose several policies: central multinational deposit insurance, a single insolvency resolution agency, and common or harmonized laws regarding insolvency resolution and enforcement. ; In the absence of such policies, the authors suggest that entry by way of subsidiaries rather than branches presents the lesser set of problems for the host country. For all forms of entry, they conclude, resolution costs can be most effectively controlled through the universal adoption of well-designed and enforced prompt corrective action policies and legal closure rules based on market values of assets and liabilities.Bank failures

    Roehampton University : Institutional Review by the Quality Assurance Agency for Higher Education, January 2013

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    Proposals from the ERNCIP Thematic Group, “Case Studies for the Cyber-security of Industrial Automation and Control Systems”, for a European IACS Components Cyber-security Compliance and Certification Scheme. Thematic Area Industrial Control Systems and Smart Grids

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    All studies recently published agree. Industrial Automation and Control Systems (IACS) increasingly constitutes a target for cyber-attacks aiming at disturbing Member States’ economies, at disabling our critical infrastructures or at taking advantage from our people. Such hostile acts take place in a context of geostrategic tensions, for the satisfaction of organised crime’s purposes, or else in support of possible activist causes. In this context, the ERNCIP Thematic Group (TG) “Case studies for the cybersecurity of Industrial Automation & Control Systems” was started in January 2014 to answer the question: “Do European critical infrastructure operators need to get IACS’ components or subsystems tested and “certified” (T&C) with regards to their cybersecurity?” And should the answer have been yes, it had to answer a corollary question: “What are (roughly) the conditions of feasibility for implementing successfully a European IACS components cybersecurity Compliance & Certification Scheme?” This TG’s undertaking was a research project, not a task force seeking to deliver an immediately applicable standard. It mobilised representatives of IACS vendors, industrial operators, European Istitutions and national cybersecurity authorities.JRC.G.5-Security technology assessmen
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