Growing vehicle use and congestion externalities have led many to consider alternative congestion pricing mechanisms, as road pricing often has high infrastructural costs and faces public opposition. This paper explores the role of parking taxation in reducing congestion by considering a natural...

A well-known result about market power in emission permit markets is that efficiency can be achieved by full free allocation to the dominant firm. I show that this result breaks down when taking the interaction between input and output markets into account, even if the firm perceives market...

A well-known result about market power in emission permit markets is that efficiency can be achieved by full free allocation to the dominant firm. I show that this result breaks down when taking the interaction between input and output markets into account, even if the firm perceives market...

The paper studies the effectiveness of a refunded emission payments (REP) scheme in achieving a specific target path of NOx-emission reductions. A REP scheme levies a charge on emissions and refunds the collected funds back to the emitting firms. REP schemes have been highlighted as a remedy to...

I show that British electricity tariffs create substantial welfare loss, equivalent to between six and eighteen percent of domestic consumption value. Losses are greater than unpriced distributional and environmental counter effects. Expected technological change will increase this welfare loss....

Economists have long noted that improving energy e fficiency could lead to a rebound eff ect, reducing or possibly even eliminating the energy savings from the effi ciency improvement. Yet there are important nuances in the microeconomic theory of the rebound eff ect that have not been explored....

At the same time that the world was rocked by climate-related unnatural disasters, the social unrest sparked by the murder of George Floyd at the hands of Minneapolis police officer Derek Chauvin forced a long-overdue racial reckoning with regard to over-policing, mass incarceration, and other...

While cap-and-trade policies have been advocated as an efficient market-based approach in regulating greenhouse gas (GHG) emissions from the power sector, a major criticism is that the resulting GHG emissions permit prices may be volatile, adding one more layer of uncertainty to market...

This paper shows that when a very dirty technology is associated with positive production of a good in an economy then marginal reductions in dirtiness of the technology might lead to an increase in pollution if its consumers are environmentally very aware and a decrease in pollution if...