International investment agreements have provoked intense criticism in the policy debate during recent years. Particularly contentious has been their "ISDS" mechanisms, which enable investors to litigate against host countries. This paper examines whether host countries would be better off with...

It is often claimed that investment treaties will dissuade host countries from phasing out foreignowned CO2-intensive production. This paper uses a very simple economic framework to examine how such a problem might be alleviated through treaty reform, including increased carve-outs from...

This paper investigates the design and implications of international investment agreements. These are ubiquitous, potent and heavily criticized state-to-state treaties that protect foreign investment against host country policies. We show that optimal agreements cause national but not global...

International investment agreements have become increasingly controversial. The agreements are alleged to be beset with a large number of deficiencies that harm host countries in particular. For instance, they are said to cause "regulatory chill", to distorts investment patterns, and to lead to...