We estimate an equilibrium model of land clearing to study the impacts of roads and population on deforestation in Thailand between 1976 and 1989. Population pressures were more important in the North and Northeast sections of Thailand (elasticity of forest area with respect to agricultural...

Using plot level data, we estimate a bivariate probit model to explain land clearing and the siting of protected areas in North Thailand in 1986. The model suggests that protected areas (national parks and wildlife sanctuaries together) did not reduce the likelihood of forest clearing; however,...

Emission offsets within cap-and-trade systems are widely believed to contain system costs and stabilize allowance prices. However, trends in offsets supply are uncertain, may be persistent, and may be correlated with other sources of uncertainty. In a dynamic stochastic model we find total costs...

Some public utility commissions use monetary place-holders to reflect externality values in the financial evaluation of utility investments. This approach can be justified as a "second-best" policy tool if existing environmental regulation can be taken as given. This paper addresses two possible...

This paper analyzes 18 scenarios surrounding the benefits and costs of a policy to reduce emissions of nitrogen oxides (NOX) from electricity generation in the 19 eastern states. Under each scenario, an annual policy would yield net benefits that are at least as great as those expected under the...

For 20 years acid rain in the Adirondack Park has been a central issue in the debate about clean air regulation. Based on a contingent valuation survey of New York residents, our study quantifies the total economic value of expected ecological improvements in the park from forthcoming policies....