Environmental Problems A Market Failure -- Choice of Policy Instruments Tax Regulation or Subsidy -- Another Solution to Environmental Problems Prepoety Right Approach -- Uncertainty and Policy Choice Price Control or Quantity Control -- Waste Reduction and the Effectiveness of Imposing Disposal...

Physically, pollution occurs because it is virtually impossible to have a productive process that involves no waste; economically, pollution occurs because polluting is less expensive than operating cleanly. This chapter explores the sources and consequences of, and remedies for, pollution and...

This paper estimates the carbon leakage rate across countries, arguably a key parameter in the international climate policy discussion including on border carbon adjustment, but which remains subject to significant uncertainty. We propose innovations along two lines. First, we exploit recently...