Solar geoengineering has received increasing attention as an option to temporarily stabilize global temperatures. A key concern surrounding these technologies is that heterogeneous preferences over the optimal amount of cooling combined with low deployment costs may allow the country with the...

This paper performs a welfare analysis of economies with private information when public information is endogenously generated and agents can condition on noisy public statistics in the rational expectations tradition. We find that equilibrium is not (restricted) efficient even when feasible...

This paper concerns international coordination of environmental taxation.The main contribution of the paper is to provide a frame-work for dynamiccost benefit analysis of environmental tax reforms in a global economy withtransboundary environmental problems. We show that the welfare effects...

I investigate the interaction between a country that imports a commodity whose production contributes to a stock pollution, such as electricity, from a country that produces that commodity. If the transboundary externality is priced improperly, the application of a feed-in tariff or border tax...

This paper investigates how the presence of social capital affects the externality arising from status-seeking preference as a parable for inefficient antagonistic behavior. It is assumed that the stock of social capital is accumulating through joint social interaction between rational...