This paper discusses the likely evolution of the trade and environment issue in the World Trade Organization after the upcoming ministerial meeting in Singapore this December. It makes a number of points. Progress within the GATT/WTO on this issue looks likely to be slow and painfully...

We study a growth model with an environmental asset which is a source of utility and an input to consumption and production. The stock of this asset follows its own ecological dynamics, which are affected by economic activity. We study the implications of an approach to ranking sequences of...

Despite technological advances, an individual car's emissions still cannot be measured reliably enough to impose a Pigovian tax. This paper explores alternative market incentives that could be used instead. We solve for second-best combinations of uniform taxes on gasoline, engine size, and...

Our analysis melds two traditional approaches to promoting quality. The first is restoring the stock of quality. The second is curbing its flow of deterioration. Although both approaches are widely used in real world settings, analytic models have tended to focus on one strategy or the other. We...

This paper discusses the environmental externalities that are commonly found in the developing world (the environmental regime) along with the policy responses, if any, commonly used to deal with these. Included are the effects of industrial emissions, air and water quality impacts of untreated...

Output-based carbon regulations--such as fuel economy standards and the rate-based standards in the Clean Power Plan--create well-known incentives to inefficiently increase output. Similar distortions are created by attribute-based regulations. This paper demonstrates that, despite these...