This paper extends the classical exhaustible-resource/stock-pollution model with the irreversibility of pollution decay …. Within this framework, we answer the question how the potential irreversibility of pollution affects the extraction path. We … example. To sum up, for any pollution level, we can identify a critical resource stock such that there exist multiple optima i …

which exhibits distortions due to pollution, external landfilling costs and inefficient product design. The allocative …

The paper studies the effect of public transport policies on urban pollution. It uses a quantitative equilibrium model … with residential choice and mode choice. Pollution comes from commuting and residential energy use. The model parameters … transport coupled with increasing transit speed affects the equilibrium. In the baseline simulation, total pollution falls by 0 …

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 …