Carbon leakage provides an efficiency argument for unilateral climate policy to differentiate emission prices in favor of emission-intensive and trade-exposed sectors. At the same time, differential emission pricing can be (mis-)used as a beggar-thy-neighbor policy to exploit terms of trade....

According to USDA's Economic Research Service (ERS), the national net farm income, a key indicator of U.S. farm well-being, is forecast at a record 121 billion in 2013, up 6% from last year, and about 3 billion above 2011's previous record. In addition to record net farm income, farm wealth is...