May 2000 - How well air and water pollution regulation is implemented depends very much on both the level of economic development and actual environmental quality. Pollution pricing is closer to the dictates of environmental economics than China's formal regulatory statutes would suggest - and...

Hedging creates value only when the policy is near optimal but can be harmful otherwise. This paper takes the US airline industry as an example and derives the optimal fuel cost hedging ratio as a function of firm-specific revenue and cost sensitivities, as well as the relative composition of...