Tradable permit markets have become an increasingly popular tool to address environmental policy problems. This paper describes and evaluates the performance of the Regional Clean Air Incentives Market (RECLAIM) that started operating in Southern California at the beginning of 1994. In analysing...

The industrial Midwest went through wrenching economic restructuring during the 1970s and 1980s and yet rebounded to outperform the U.S. economy during much of the 1990s. Key to this resurgence was restructuring in core industries (including manufacturing) that increased the productivity and...

"It is time to stop regulating the electricity industry as if it were a natural monopoly. Technology has moved on and competition must not be discouraged by regulation. Competition is not only necessary for lower prices to consumers: the particular technological developments that have taken...