Copeland, Brian Richard (contributor); … - 2003 - [Elektronische Ressource], rev
unproductive because the parties differ greatly in their trust of
market forces and typically value the environment differently …, in which the government sets the total level of pollution Z, and
the emissions price τ is determined in the market.
Firms … output of the capital-intensive industry X, and
reduce the output of Y. An increase in the supply of labor stimulates Y and …