We estimate a reduced form model of the redwood timber industry that is consistent with Hotelling's exhaustible resource theory. The consequences for this theory of various assumptions about the elasticity of expectations are derived. The estimated equations are used to test the hypotheses about...

This paper explains the development and implementation of a methodology for assessing the economic impacts of large-scale environmental regulations. The development process began with a literature review surveying channels through which environmental regulations might influence economic...

The opening of a new site for the production of aggregates has both direct and indirectimpacts on the environment. The indirect impacts include changes in the environmental costs of hauling aggregates and possible changes in the level of construction activity. In this note, we show that the most...