and enforcement. Our key findings are: (1) prudential regulation limits expansion of plants with high initial pollution …

policies must be enforced. This paper examines the consequences of the need for costly enforcement of voluntary environmental … with these agreements, and the relative efficiency of voluntary and regulatory approaches. We find that enforcement costs … can form in place of an emissions tax. However, if an agreement does form, member-financed enforcement induces greater …

In this paper I model the optimal monitoring and enforcement strategy when inspection capacity is fixed by budget or … manpower constraints. I adopt a leverage enforcement structure that classifies firms into two groups with different enforcement … intensities. Optimal monitoring and enforcement requires effective allocation of the fixed number of inspections to the two groups …