The 1990 amendments to the Clean Air Act created a trading program in sulfur dioxide (SO2) emissions that has served as the seminal example of how an emissions trading program could be designed. Yet despite its success, the trading program was essentially brought to an end by a series of...

Simulation models of emissions trading performance are generally based on the assumption that carbon prices are fully (or almost fully) passed through to energy prices (with pass-through rates equal or very close to one). Unfortunately, empirical analyses of wholesale electricity spot markets do...

This survey encompasses multiple areas. The theoretical literature on environmental federalism continues to expand in areas such as capital competition and political economy. On the empirical side, emphasis is put on the existence of strategic interaction among states, the effects of President...