Birgit Bednar-Friedl is Associate Professor at the Department of Economics, University of Graz, and the Wegener Center for Climate and Global Change. Her current research interests span the economics of climate change, resource and energy economics, and international economics. Her recent research covers several aspects of unilateral and multilateral climate policy, international burden sharing in climate policy, the macroeconomic costs of climate change impacts on various fields such as agriculture, electricity, tourism and transport, and sustainable harvesting of renewable resources. Joern Kleinert is Professor of International Economics at University of Graz. He works on international trade, financial flows, multinational firms and global imbalance. Currently he focuses on the consequences of the global crisis on the member countries of the European currency union.