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regulated due to its historically large contribution to air and water pollution. Our paper contributes to the broader empirical … and enforcement. Our key findings are: (1) prudential regulation limits expansion of plants with high initial pollution …
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Global economic convergence and protection of the climate are both worthwhile goals. Yet, there is an inherent tension between them. Greenhouse gases are a waste product that is often emitted in the production process. Limiting such emissions therefore hampers the accumulation of income and...
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