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"instruments" - of environmental policy, and considers, in particular, experience around the world with the relatively new breed of …. Finally, under reducing government subsidies, I review a number of specific examples from around the world. By defining market …
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We examine an implication of the “Coase Theorem” which has had an important impact both on environmental economics and on public policy in the environmental domain. Under certain conditions, the market equilibrium in a cap-and-trade system will be cost-effective and independent of the...
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