If a coalition of countries implements climate policies, nonparticipants tend to consume more, pollute more, and invest too little in renewable energy sources. In response, the coalition's equilibrium policy distorts trade and it is not time consistent. By adding a market for the right to...

"The End of Country is the compelling story about the epic battle for control of one of the richest natural gas deposits the world has ever known: the Marcellus Shale, worth more than one trillion dollars. In a remote northeastern corner of Pennsylvania, an intense conflict begins, pitting the...