We analyze non-cooperative environmental policy when the only strategic interac-tion between countries is through bilateral transboundary pollution, i.e., countries areclosed or small open economies. When countries set pollution taxes simultaneously,there is no carbon leakage. However, in the...

Growing interest in sustainable energy and energy independence is evident by a simple Googlesearch on the phrase “Go Green,” yielding 162 million hits. With the growing emphasis onfinding ways to be environmentally responsible and reduce greenhouse gas (GHG) emissions,interest has reemerged...

In financial and economic policy circles concerned with public debt in developingcountries, a rising debt-GDP ratio is interpreted as a signal of overborrowing, warn-ing of debt defaults if strong fiscal corrections are not adopted in time. This papershows why this interpretation is incorrect by...

The ratios of public debt as a share of GDP of Brazil, Colombia, and Mexico were 12 percentagepoints higher on average during the period 1996-2005 than in the period 1990-1995. CostaRica's debt ratio remained stable but at a high level near 50 percent. Is there reason to beconcerned for the...