We propose a method for estimating hurdle rates for firms' investments in pollution abatement technology, using ex post data. The method is based on a structural option value model where the future price of polluting fuel is the major source of uncertainty facing the firm. The econometric...

We propose a method for estimating hurdle rates for firms' investments in pollution abatement technology, using ex post data. The method is based on a structural option value model where the future price of polluting fuel is the major source of uncertainty facing the firm. The econometric...

We estimate hurdle rates for firms' investments in pollution abatement technology, using ex post data. The method is based on a structural option value model where the future price of polluting fuel is the major source of uncertainty facing the firm. The empirical procedure is illustrated using...

We estimate hurdle rates for firms’ investments in pollution abatement technology, using ex post data. The method is based on a structural option value model where the future price of polluting fuel is themajor source of uncertainty facing the firm. The empirical procedure is illustrated using...

This paper reviews the recent experience of Germany in encouraging innovation to reduce negative environmental impacts of economic activity. The essence of the German approach to policy-induced environmental innovation is discussed in the context of changing policy objectives, and illustrated...

This paper reviews the recent experience of Germany in encouraging innovation to reduce negative environmental impacts of economic activity. The essence of the German approach to policy-induced environmental innovation is discussed in the context of changing policy objectives, and illustrated...

The federal government now confronts considerable political pressure to add CO2 to the existing set of criteria air pollutants. As with current criteria pollutants, proposals call for control of CO2, assuming that the control of the each of the three criteria pollutants is separable from the...

Global warming and the acute domestic air pollution in China have necessitated transition to a sustainable energy system away from coal-dominated energy production. Through a systematic review of the national policy documents, this study investigates the policy mix adopted by the Chinese...

The federal government now confronts considerable political pressure to add CO2 to the existing set of criteria air pollutants. As with current criteria pollutants, proposals call for control of CO2, assuming that the control of each of the three criteria pollutants is separable from the others....

Based on panel data of 214 licenses to construct small hydropower plants, we examine whether uncertainty with respect to the introduction of a market for renewable energy certificates affected the timing of investments in Norway from 2001 to 2010. Using regression analysis, we find that (1)...