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Whalley, John - 2021

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...

Persistent link: https://www.econbiz.de/10013234937

Sustainable Growth and the Green Golden Rule

Beltratti, Andrea; Chichilnisky, Graciela; Heal, Geoffrey M. - 2021

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...

Persistent link: https://www.econbiz.de/10013248110

What are the Costs of Meeting Distributional Objectives for Climate Policy?

Parry, Ian W. H. - 2010

This paper develops an analytical model to quantify the costs and distributional effects of various fiscal options for allocating the (large) rents created under prospective cap-and-trade programs to reduce domestic, energy-related CO2 emissions. The trade-off between cost effectiveness and...

Persistent link: https://www.econbiz.de/10013136741

Regulation Versus Taxation

Alesina, Alberto F. - 2010

We study which policy tool and at what level a majority chooses in order to reduce activities with negative externalities. We consider three instruments: a rule, that sets an upper limit to the activity which produces the negative externality, a quota that forces a proportional reduction of the...

Persistent link: https://www.econbiz.de/10013137596

Taxes, Permits, and Climate Change

Kaplow, Louis - 2010

This essay revisits the question of instrument choice for the regulation of externalities in the context of climate change. The central point is that the Pigouvian prescription to equate marginal control costs with the expected marginal benefits of damage reduction should guide the design of...

Persistent link: https://www.econbiz.de/10013139280

The Corrective Tax Versus Liability as Solutions to the Problem of Harmful Externalities

Shavell, Steven - 2010

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 …

Persistent link: https://www.econbiz.de/10013139749

Corrective Taxation Versus Liability

Shavell, Steven - 2010

Taxation and liability are compared here as means of controlling harmful externalities. It is emphasized that liability has an advantage over taxation: inefficiency of incentives arises under taxation when, as would be typical, it would be impractical for a tax to reflect all variables that...

Persistent link: https://www.econbiz.de/10013139750

Estimates of the Social Cost of Carbon : Background and Results from the Rice-2011 Model

Nordhaus, William D. - 2011

A new and important concept in global warming economics and policy is the social cost of carbon or SCC. This concept represents the economic cost caused by an additional ton of carbon-dioxide emissions or its equivalent. The present study describes the development of the concept as well as its...

Persistent link: https://www.econbiz.de/10013119046

Optimal Cleanup and Liability after Environmentally Harmful Discharges

Polinsky, A. Mitchell - 2011

This article studies how liability for environmentally harmful discharges affects the incentives of firms to engage in cleanup and invest in precautions, as well as the incentives of consumers to purchase the goods whose production leads to discharges. Our main conclusion is that making firms...

Persistent link: https://www.econbiz.de/10013124354

Sources of Comparative Advantage in Polluting Industries

Broner, Fernando - 2012

the country level with data on pollution intensity at the industry level to show that countries with laxer environmental …. We propose an instrument for environmental regulation based on meteorological determinants of pollution dispersion identi …...ed by the atmospheric pollution literature. We find that the effect of environmental regulation on the pattern of trade is …

Persistent link: https://www.econbiz.de/10013101512