Transportation is one of the main contributors to greenhouse gas emissions. Climate regulations on transportation are often a mix of sector-specific regulations and economy-wide measures (such as emission pricing). In this paper we analyse the effects on economic welfare, abatement costs and...

The Sustainable Development Goals (SDGs) adopted by the United Nations provide normative orientation for many national and regional governments as well as actors from industry and other parts of the civil society. There is growing consensus that the corresponding transformation processes needed...

Limiting global warming to well below 20C may result in the stranding of carbon-sensitive assets. This could pose substantial threats to financial and macroeconomic stability. We use a dynamic stochastic general equilibrium model with financial frictions and climate policy to study the risks a...

Real life applications of yardstick regulation frequently refer to historical cost data. While yardstick regulation cuts the link between firms own costs and prices firms may charge in a static setting, it does not do so in a dynamic setting where historical cost data is used. A firm can...

This paper builds a dynamic model of utility regulation where a government cannot commit to a time-inconsistent policy of not expropriating investment.By allowing the government's type to change over time, I explore how reputation concerns may generate partial commitment. Restricting attention...

Real life applications of yardstick regulation frequently refer to historical cost data. While yardstick regulation cuts the link between firms' own costs and prices firms may charge in a static setting, it does not do so in a dynamic setting where historical cost data is used. A firm can...

The paper studies the use of emission taxes and feed-in subsidies for the regulation of a monopoly that can produce the same good with a technology that employs a polluting input and a clean technology. In the first part of the paper, we show that the efficient solution can be implemented...

Researchers have long been interested in whether environmental regulations discourage investment, reduce labour demand, or alter patterns of international trade. But estimating those consequences of regulations requires devising a means of measuring their stringency empirically. While creating...

Despite evidence to the contrary, three common myths persist about federal regulations. The first myth is that many regulations concern the environment, but in fact only a small minority of regulations are environmental. By some measures, the flow of new health regulation alone since the year...