Consider an atomistic developer who decides when and at what density to develop his land, under a property tax system characterized by three time-invariant tax rates: the tax rate on pre-development land value, the tax rate on post-development residual site value, and the tax rate on structure....

This paper uses analytical and numerical general equilibrium models to study the costs of achieving pollution reductions under a range of environmental policy instruments in a second-best setting with pre-existing factor taxes. We compare the costs and efficiency impacts of emissions taxes,...

This paper examines the choice between revenue-raising and non-revenue-raising instruments for environmental protection in a second-best setting with pre- existing factor taxes. We find that interactions with pre-existing taxes influence the costs of regulation and seriously militate against...