Prior to adoption of the 1972 Clean Water Act (CWA) most U.S. power plants used once-through cooling water systems that discharged large quantities of warm water and resulted in significant amounts of thermal pollution in neighboring bodies of water. The CWA essentially mandated recirculating...

This paper presents the first empirical test of the green paradox hypothesis, according to which well-intended but imperfectly implemented policies may lead to detrimental environmental outcomes due to supply side responses. We use the introduction of the Acid Rain Program in the U.S. as a case...

The use of long-term contracts in the procurement of coal for electricity generation iscommon. The data that is observed from contracts and their transactions are fromdifferent levels of the pricing process. Contracts contain the parameters by which allfuture deliveries are structured,...