We examine the relative attractions of a carbon tax, a" pure" cap-and-trade system, and a"
hybrid" option (a cap-and-trade system with a price ceiling and/or price floor). We show that …

Within the field of environmental economics, the role of technological change has received
much attention. The long-term nature of many environmental problems, such as climate …

Air pollution at any given time is unequally distributed across locations. Average
concentrations of fine particulate matter smaller than 2.5 micrometers in diameter (PM2. 5) …

Environmental innovation has been recognized as an efficient way of addressing
environmental problems. However, how environmental innovation may affect carbon …

Porter Hypothesis has evoked almost three-decade debate on whether environmental
regulation can stimulate firm innovation. However, one missing component in this long …

Climate change is driven by the buildup of greenhouse gases (GHGs) in the atmosphere,
which is predominantly the result of the world's consumption of fossil fuels. GHGs are a …

This article presents an overview of the design and performance of seven major emissions
trading programs that have been implemented over the past 30 years and identifies a …

In theory, market-based regulatory instruments correct market failures at least cost. However,
evidence on their efficacy remains scarce. Using administrative data, we estimate that, on …

This study derives the relationship between environmental production functions and
environmental directional distance functions. These two approaches make different …

Because of the global commons nature of climate change, international cooperation among
nations will likely be necessary for meaningful action at the global level. At the same time, it …