It has often been stated that current studies aimed at understanding the magnitude of optimal climate policy fail to adequately capture the potential for “catastrophic” impacts of climate change. While economic modeling exercises to date do provide evidence that potential climate...

The “social cost of carbon” (SCC) is the present value of the future stream of damages from one additional ton of carbon emissions in a particular year. This paper develops a simple model for calculating the SCC and compares estimates of the SCC under certainty and uncertainty. Our model...

The EPA has a cornucopia of cleanup and reuse programs ranging from the Superfund Program which addresses sites posing imminent danger and many of the most hazardous sites nationwide, to the Brownfields Program which addresses lower risk sites. These programs provide a common set of primary...

Over the past five decades, the federal government has enacted laws and developed regulations to manage actual and threatened hazardous releases. This paper describes a relatively understudied component of the nation’s response capability – the Superfund Emergency Response and Removal (ERR)...

The literature on the impacts of biofuels on food prices is characterized by contradictory findings and a wide range of estimates. To bring more clarity to this issue, we review studies on U.S. corn ethanol production released between 2008 and 2013. Normalizing corn price impacts by the change...

The use of voluntary approaches to achieve environmental improvements has grown dramatically in the United States since they were first introduced thirteen years ago. As of 2004, there are over 50 voluntary programs in the U.S. at the federal level alone. These programs take a variety of forms,...

Many environmental justice studies argue that firms choose to locate waste sites or polluting plants disproportionately in minority or poor communities. However, it is not uncommon for these studies to match site or plant location to contemporaneous socioeconomic characteristics instead of to...

Economists have long been interested in explaining the spatial distribution of economic activity, focusing on what factors motivate profit-maximizing firms when they choose to open a new plant or expand an existing facility. We begin our paper with a general discussion of the theory of plant...

In the environmental justice literature, evidence of disproportionate siting in poor or minority neighborhoods is decidedly mixed. Some allege this is due to the difference in whether the study looks at evidence at the national, state, or city level. Here, I compare results from two of the...

Rapid urbanization and increased industrialization have led to high pollution levels throughout Latin America. Economists tout policies based on market-based economic incentives as the most cost-effective methods for addressing a wide variety of environmental problems. This chapter examines...