The paper compares the effects of market-based and command-and-control climate policies on the direction of technical change and the prevention of environmental disasters. Drawing on the model proposed in Acemoglu et al. (2012), we show that market-based policies (carbon taxes and subsidies...

Relying on a standard formulation of dynamic models of pollution abatement, we propose a competition among countries committed to maximize their respective welfare without any form of agreement. When there exists a threshold level for the stock of pollution above which a catastrophe occurs, it...

section 1. Sustainable development through greening -- section 2. Sustainable development through industrial ecology -- section 3. Tools to aid environmental decisions -- section 4. Public policy & reforms for better environmental decisions -- section 5. Corporate social responsibility --...