of exchange rate uncertainty and the use of currency futures on the risk-averse firm's decisions about home and foreign …, when futures markets exist, the "separation property" holds. Introducing another source of uncertainty, such as the …

revenues. Additional revenues can be used to reduce the distortion of the rest of the tax system. Without uncertainty …, environmental taxes and auctioned permit schemes are equally appropriate. In the presence of uncertainty, however, the efficient … optimal choice of instruments in the presence of uncertainty. It shows that, although the revenue capacity effect generates …