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Jacobian matrix. A matrix consisting of first-order partial derivatives that is used to test for functional dependence among a system of equations. FURTHER READING Grafton and Sargent (1 997). Jensen’s inequality. An inequality where the expected value of a concave function of a random variable, E[g(x)], is equal to or less than the concave function of the expected value of the random variable, g(E[x]), if g(.) is a concave function, x is the random variable and E is the expectations operator. See expected value and random variable. FURTHER READING Greene (1997). jetstream. A stream of air found at the upper boundary of the troposphere (8 to 15 kilometers above the earth’s surface depending upon the latitude) which can travel as fast as 300 kilometers an hour. joint and several liability. Term used to describe a legal standard whereby a single person or party is liable for all damages despite the fact that the party may have been responsible for only a part of the total damages. joint implementation. A term defined under the 1997 Kyoto Protocol that allows Annex B countries, which have obligations to reduce their greenhouse gases under the Framework Convention on Climate Change, to mitigate greenhouse gas emissions or enhance sinks in Annex B countries by cooperation and investments. The reduction in emissions from the cooperation and investments may then be used as emissions reduction units to help meet national greenhouse gas reductions required under the Protocol. See emission reduction credit, Kyoto Protocol...
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