We study the efficacy of releases from the U.S. Strategic Petroleum Reserve (SPR) within the context of fully specified models of the global oil market that explicitly allow for storage demand as well as unanticipated changes in the SPR. Using novel identifying strategies and evaluation methods,...

This article analyzes the international emissions trading regime at the heart of the world's effort to address global warming as a means of exploring broader international governance issues. The trading regime seeks to marry two models of global governance, market liberalism, which embraces...

This paper provides an international economic lawyer's perspective of the issues economists need to consider in analysing the trade environment interface. Despite their historical polarity, proponents of both trade and environmental regulation principally seek to reduce negative externalities...

As GHG emissions did not decline as anticipated early of the 1990ties Carbon Capture and Storage (CCS) recently gained more and more attention as a climate change mitigation option. However, CO2 suppressed in geological reservoirs is likely to lead to future releases of the CO2 stored. This...

This paper examines the welfare effects of capital taxation and environmental standards with and without a government spending constraint or international tax credits. This analysis delineates the intricate linkages of the two policy measures to both private income and government welfare....

Some eighty years ago, economists first proposed the use of corrective taxes to internalize environmental and other externalities. Fifty years later, the portfolio of potential economic-incentive instruments was expanded to include quantity-based mechanisms -- tradeable permits. Thus,...

Genuine saving measures net investment in produced, natural and human capital. It is a necessary condition for weak sustainable development that genuine saving not be persistently negative. However, according to data provided by the World Bank, resource-rich countries are systematically failing...

This draft paper, intended for a general audience interested in environmental policy, has been prepared for the Next Generation Project at the Yale Center for Environmental Law and Policy. We examine what will be required if market-based environmental policy instruments are to become a major...

This entry describes the development and operation of antidumping laws. It surveys and analyzes the economic literature evaluating why dumping occurs, assesses the merits of an antidumping mechanism, and explains why such mechanisms persist. The entry also discusses the current international...

The law and policy of salmon protection and restoration are complex, and matters surrounding salmon implicate topics as varied as Indian treaty fishing rights, dam management and removal, international treaties, predator con­trol, and climate change. Pacific Salmon Law and the Environment...