This paper discusses both distributional and allocational effects of limiting carbon dioxide emissions in a small and open economy. It starts from the assumption that Switzerland attempts to stabilize its greenhouse gas emissions over the next 25 years, and evaluates costs and benefits of the...

This paper examines the impact of different forms of taxation on economic growth in a model with endogenous technical progress and finitely-lived agents. We find that income taxes lower growth rates (given that income tax revenue is transferred to the old), whereas consumption taxes can,...

This paper sets up a model using stochastic dynamic programming to analyze pollution control decisions. Environmental decision making is characterized by both uncertainty and irreversibility: Uncertainty might be related to future costs and benefits of adopting a particular control policy....

Voluntary contributions of the industrialized countries are small compared to the financial resources, the developing countries need for adapting efficiently to global climate change. This leads to the conjecture that under the current climate policy architecture industrialized countries lack...