The paper stresses that mitigation instruments other than carbon taxes can have an important role if, for example, higher fuel prices are politically difficult or have limited impacts in countries that do not consume coal.
The study by researchers from Monash Business School and the University of Adelaide, Australia, and the University of St Gallen, Switzerland
Authorities credit Birkenfeld with, essentially, bringing to an end the decades-long Swiss banking secrecy which made it impossible for law enforcement to discover the Americans with hidden accounts.
The average amount lost was GBP 1,380 per person but, as in previous years, in addition to the financial cost, victims have also reported the significant emotional impact caused by this crime.
The Bermuda Government has opposed that ever since, on the grounds that if other countries are not required to do it, it would cause the island economic damage.