The economic case for trade liberalization rests on its capacity to extend the reach of the market's fabled invisible hand. With the globalization of the market, however, comes a globalization of market failures arising from the fact that prices do not to capture 'external' costs and benefits to...

This paper examines spatial variations in exposure to toxic air pollution from industrial facilities in urban areas of the United States, using geographic microdata from the U.S. Environmental Protection Agency’s Risk-Screening Environmental Indicators project. We find that average exposure in...

In addition to lower carbon dioxide emissions, policies to reduce fossil fuel combustion can yield substantial air quality co-benefits via reduced emissions of co-pollutants such as particulate matter and air toxics. If co-pollutant intensity (the ratio of co-pollutant impacts to carbon dioxide...

Policies to reduce carbon dioxide emissions can yield substantial co-benefits via reduced emissions of co-pollutants such as particulate matter, nitrogen oxides, and air toxics. Valuation studies suggest that these benefits may be comparable in magnitude to the value of reduced carbon emissions....

By respecting nature’s limits and investing in nature’s wealth, we can protect and enhance the environment’s ability to sustain human well-being. But how humans interact with nature is intimately tied to how we interact with each other. Those who are relatively powerful and wealthy...