Reduced industrial activity leads to improve local air quality. Using plant level micro data from the Census of Manufacturers, I explore how county particulate levels vary for counties that feature different manufacturing activity levels and that differ with respect to manufacturing's capital...

This paper considers the case of Bayesian learning about the relationship between the greenhouse-gas level and temperature rise. Learning takes time because of a stochastic shock to the realized global mean temperature. The paper illustrates the difficulty of quickly learning about the...

This paper analyzes what the effect of the inclusion of emissions trading in an international environmental agreement has on the abatement commitments of the trading countries and on aggregate emissions. We discuss, in a very general model, both the case where countries non-cooperatively set...

The Clean Air Act Amendments (CAAA) of 1990 will have a major impact on U.S. coal markets. We argue that coal suppliers will be able to use the market in sulfur dioxide emissions allowances created by the CAAA to increase the range of their competitive strategies in their core business, coal.