In this paper, we characterize a mechanism for reducing pollution emis sions in which countries, acting non-cooperatively, commit to match each others' abatement levels and may subsequently engage in emissions quota trading. The an alysis shows that the mechanism leads to efficient outcomes. The...

The importance and complexity of petroleum and hard minerals operations is matched by the importance and complexity of finding effective ways to tax them. Many of these challenges arise in other activities too (exhaustibility of deposits being the main exception), but they take such extreme form...