regulated due to its historically large contribution to air and water pollution. Our paper contributes to the broader empirical … and enforcement. Our key findings are: (1) prudential regulation limits expansion of plants with high initial pollution …

-consistent policy rules that implement the stochastic first best as long as a future market exists. We apply our theory to carbon …

years of progress on air pollution, water, climate, oceans, fish, land, forest, biodiversity, plastics, contaminants, space …

either mitigate the health consequences of domestic pollution privately or reduce pollution collectively through public … ordinary citizens. The recognition that the health consequences of pollution can be dealt with privately at a cost adds an … private mitigation is feasible, inequality of incomes leads to an unequal distribution of the health burden of pollution (in …

We develop a simple model of managing a system subject to pollution damage under risk of an abrupt and random jump in …