there is no perfectly clean technology that eventually solves the pollution problem once and for all. New technologies have … stings attached, i.e. each emits a specific stock pollutant. Damages are convex in individual pollution stocks but additive … across stocks, creating gains from diversification. The research and pollution policies are tightly linked in such a setting …

the new technology may turn out to generate a new pollution problem. R&D may therefore be optimally undertaken more than … the optimal pollution and R&D policies. The optimal R&D program is strictly sequential and has an endogenous stopping …

This paper studies Krugman's (1991) core-periphery model and extends it to include environmental pollution. We present … local environmental pollution, a third and more realistic type of equilibrium may occur in which most of the manufacturing …

harmful externalities, its actual use has been limited, mainly to the domain of pollution. Liability, in contrast, has great … help to explain the observed predominance of liability over taxation, except in the area of pollution. The following …