The standard theoretical literature has shown that environmental sustainability and positive economic growth are not incompatible as long as environmental policies are optimal. However, in showing this result earlier studies have relied on strong assumptions that may appear to charge the dice in...

Policy discussions of agricultural pollution problems characterize prevention as more cost effective and precautionary than ex post treatment. We derive conditions under which treatment alone is more cost effective in situations involving multiple sources of emissions, multiple sites affected,...

Spatial regulations can restrict chemical use more efficiently by linking benefits to the costs. California has instituted such a spatially based regulation of an agricultural fumigant to meet air quality standards. We examine the implications of alternative allocation mechanisms: use allocated...

Many watershed organizations have prioritized establishing streamside (riparian) buffers on agricultural land to improve water quality. Using data from a 2000 survey of 500 Maryland landowners, we examine what level of financial incentives they would require to install such buffers for 15 years...

Each year U.S. farmers receive more subsidies than needy families receive through welfare assistance or post-secondary students receive through student aid grants. Yet, who benefits from agricultural subsidies is an open question. Economic theory predicts the entire subsidy incidence should be...

Trade, the exchange of goods and services across countries, is often viewed as an engine of economic growth. Benefits of liberalized trade include access to a larger variety of goods and services to consumers, easier access to foreign technologies, access to larger markets for producers, and...