This paper explores abatement investment and location responses to environmental policy, which takes the form of emission taxes or tradeable emission permits and subsidies against the costs of abatement investment, under uncertainty and irreversibility. Uncertainty is associated with output...

This paper explores abatement investment and location responses to environmental policy, which takes the form of emission taxes or tradeable emission permits and subsidies against the costs of abatement investment, under uncertainty and irreversibility. Uncertainty is associated with output...

The dissertation also deals with conflicts between successive regulators that can arise when policy makers have self-control problems, or because successive regulators share a common concern for long-term environmental outcomes, but each regulator would like his successors to shoulder the costs...