Optimal distortions for the agricultural sector are calculated taking as given distortions in the nonagricultural sector. The calculations use a general equilibrium model and assume that the sole criterion is economic efficiency. For most agricultural commodities, existing distortions should be...

a reprint of 1992 Econ. Letters paper, "Piecemeal Trade Reform in Presence of Producer-Specific Domestic Subsidies," Economics Letters 39 (1992): 65-71

Policy reforms in the EU require careful consideration because the EU is a significant player in international agricultural markets for many commodities. We analyze the effects on world agricultural markets of the 2003 Common Agricultural Policy (CAP) reform and the accession of ten new member...

I offer a selective review of discounting and climate policy. Analytic and numerical models show that different assumptions greatly change the degree to which decisions about climate policy depend on the discount rate. I discuss a claim that standard models exaggerate the current generation's...

Intergenerational altruism and contemporaneous cooperation are both important to the provision of long-lived public goods. Equilibrium climate protection may depend more sensitively on either of these considerations, depending on the type of policy rule one examines. This conclusion is based on...