Physically, pollution occurs because it is virtually impossible to have a productive process that involves no waste; economically, pollution occurs because polluting is less expensive than operating cleanly. This chapter explores the sources and consequences of, and remedies for, pollution and...

The author presents a multi-impact economic valuation framework called the Social Cost of Atmospheric Release (SCAR) that extends the Social Cost of Carbon (SCC) used previously for carbon dioxide (CO2) to a broader range of pollutants and impacts. Values consistently incorporate health and...

Based on an in-depth literature review and responses to a survey among OECD member countries, this paper discusses the use of flexibility mechanisms in environmental regulations. Such mechanisms can provide flexibility as to how a given environmental improvement is achieved, regarding where...

Environmental Problems A Market Failure -- Choice of Policy Instruments Tax Regulation or Subsidy -- Another Solution to Environmental Problems Prepoety Right Approach -- Uncertainty and Policy Choice Price Control or Quantity Control -- Waste Reduction and the Effectiveness of Imposing Disposal...

The environmental regulations US firms are exposed to are often place-based, incentivizing firms to move to less regulated counties or states. Consistent with this argument, multiplant firms partially regulated under the ozone regulations of the US Clean Air Act offset regulation-induced...