We use an econometrically estimated multi-region, multi-sector general equilibrium model of the world economy to examine the effects of the tradable emissions permit system proposed in the 1997 Kyoto Protocol, under various assumptions about the extent of international permit trading. We focus,...

The purpose of this paper is to quantify the economic impact of the Clean Air Act Amendments of 1990. The long-run cost of environmental regulations enacted prior to 1990 amounts to 2.59% of the U.S. national product. The new legislation will reduce the national product by a further 0.6% when...

This paper presents a new intertemporal general equilibrium model of the U. S. economy incorporating a detailed representation of U.S. tax structure. We employ the model to analyze the impact of fundamental tax reform on U.S. energy markets. More rapid economic growth would dominate energy...