This paper undertakes the issue of portfolio insurance from the perspective of a risk-averse agent requiring his financial wealth to grow at a floored rate in excess of an equity benchmark. The suggested solution is a generalization of the CPPI approach within a two-equity asset framework. The...

Schwartz and Hayward offer an alternative analysis of air pollution levels, trends, and prospects in metropolitan areas across the United States.

Claims that air pollution will increase are not only false, but the exact opposite of what will actually happen.

Two prominent economists comment on the bitter, divisive, and passionate debate on the proper direction of environmental policy.

This primer highlightsboth the strengths and the limitations of benefit-cost analysis in the development, design, and implementation of regulatory reform.