This paper constructs an overlapping generations model of pollution externality wherein individuals are altruistically linked to their offspring as in Barro (1974). It is shown that steady state consumption may be a decreasing function of the intergenerational degree of altruism. Despite...

In this paper we show that a strict liability fine, established on the marginal damages caused by production act as a mean to discriminate between firms. More precisely, facing a potential risk, understood as a random negative externality, "ex ante" identical rival firms playing on a competitive...

Presents the proceedings of the China Urban Transport Symposium, held in Beijing, November 9-11, 1995, jointly sponsored by China's Ministry of Construction and Ministry of Finance, the People's Bank of China, the World Bank, and the Asian Development Bank. The symposium addressed a wide range...

This report summarizes the findings and recommendations of a three-year study on greenhouse gas (GHG) emissions and options for abatement in China over the coming decades.