standards. Our analysis includes along with abatement costs, the costs of enforcing the system to induce compliance. Further … able to induce compliance at minimum enforcement costs, but this regulatory system allow the regulator to achieve the … environmental target with minimum aggregate compliance costs. -- environmental policy ; cost-effectiveness ; enforcement costs …

This paper quantifies the welfare cost of consumption externalities in an endogenous growth model with habit formation … past consumption. Although utility may be lower in the presence of consumption externalities, the welfare loss relative to …