This paper estimates fossil fuel subsidies and the economic and environmental benefits from reforming them, focusing mostly on a broad notion of subsidies arising when consumer prices are below supply costs plus environmental costs and general consumption taxes. Subsidies are $4.9 trillion...

The COP-21 meeting in Paris produced an important result. For the first time all countries developed and developing agreed to take some mitigation action. However even if all countries deliver on what they have promised by 2030 and progress thereafter continues only at the same rate global...

Bilateral trade and capital flows have increased substantially between the United States and China yielding economic gains to both countries. However, these beneficial bilateral relations also bring about global environmental consequences including greenhouse gas emissions. The authors develop a...

This paper first reviews the conceptual case for, and appropriate design of, fiscal policies to address major externalities associated with energy use-global warming, local air pollution, and various side effects (e.g., congestion) from motor vehicles. Techniques for (roughly) estimating the...

Bilateral trade and capital flows have increased substantially between the United States and China yielding economic gains to both countries. However, these beneficial bilateral relations also bring about global environmental consequences including greenhouse gas emissions. We develop a...