Perfluorooctanoic acid (PFOA) is being used in fluoropolymer production, as surface treatment agents and for the manufacture of side-chain fluorinated polymers. However, there is evidence that PFOA and its salts have a number of hazardous properties that may cause harm to human health and the...

Researchers have long been interested in whether environmental regulations discourage investment, reduce labour demand, or alter patterns of international trade. But estimating those consequences of regulations requires devising a means of measuring their stringency empirically. While creating...

In this paper, I estimate the effect of mandatory greenhouse gas (GHG) emissions disclosure on corporate value. Using the introduction of mandatory GHG emissions reporting for firms listed on the Main Market of the London Stock Exchange as a source of exogenous variation, I find that firms most...

Researchers have long been interested in whether environmental regulations discourage investment, reduce labour demand, or alter patterns of international trade. But estimating those consequences of regulations requires devising a means of measuring their stringency empirically. While creating...

This paper explores firms' response to regulatory enforcement. New Source Review, a provision of the Clean Air Act, imposes stringent emissions limitations on significantly modified older power plants. In 1999, the EPA sued owners of 46 plants for NSR violations. We study how electricity...

This paper measures the response of US-based multinationals to the Clean Air Act Amendments (CAAA). Using a panel of firm-level data over the period 1966-1999, I estimate the effect of regulation on a multinational's foreign production decisions. The CAAA induced substantial variation in the...

In a recent work, Dragone et al. (2010) modeled an optimal control model of pollution abatement, and investigated the adoption of a tax levied on the firm's instantaneous contribution to the accumulation of pollution. In this paper, we extend the work of Dragone et al. (2010) by providing a...

Regulations that restrict pollution by firms also affect decisions about use of labor and capital. They thus affect relative factor prices, total production, and output prices. For non-revenue-raising environmental mandates, what are the general equilibrium impacts on the wage, the return to...

A low carbon fuel standard (LCFS) seeks to reduce greenhouse gas emissions by limiting a fuel producer's carbon emissions per unit of output. California has launched an LCFS for transportation fuels; others have called for a national LCFS. We show that this policy decreases production of...

Firms can sometimes preempt regulation by changing the nature, scale or location of their activities. The objectives of this paper are to model such preemptive behavior and to draw out implications for regulatory design. Applications to New Source Review are emphasized. Regulatory triggers...