pollution are low. In this case RJVs fully share information and internalize the associated externality. However when the level …

This article proposes and evaluates four hypotheses about US pollution and environmental policy over the last half … century. First, air and water pollution have declined substantially, although greenhouse gas emissions have not. Second …, environmental policy explains a large share of these trends. Third, much of the regulation of air and drinking water pollution has …

This paper estimates an augmented measure of national output inclusive of environmental pollution damage in the United … States economy over a 60-year period. The paper reports two primary findings. First, air pollution intensity declined … precipitously from the 1950s to the modern era. Air pollution damage comprised roughly 30 percent of output in the post WWII economy …