This study reviews different approaches to the political and economic control of global public
goods such as global warming. It compares quantity-oriented control mechanisms like the …

Choosing appropriate policy instruments is an important part of successful regulation. Once
objectives are agreed and suitable targets adopted, policy-makers can employ command …

We develop an endogenous growth model in which clean and dirty technologies compete in
production. Research can be directed to either technology. If dirty technologies are more …

" The Working Group III contribution to the Fifth Assessment Report (AR5) of the
Intergovernmental Panel on Climate Change (IPCC) provides a comprehensive and …

We analyze a dynamic stochastic general‐equilibrium (DSGE) model with an externality—
through climate change—from using fossil energy. Our central result is a simple formula for …

As scientific and observational evidence on global warming piles up every day, questions of
economic policy in this central environmental topic have taken center stage. But as author …

By incorporating the probability distribution directly into the analysis, this paper proposes a
new theoretical approach to resolving the perennial dilemma of being uncertain about what …

Thomas Sterner's book is an attempt to encourage more widespread and careful use of
economic policy instruments. The book compares the accumulated experiences of the use of …

Uncertainty about compliance costs causes otherwise equivalent price and quantity controls
to behave differently and leads to divergent welfare consequences. Although most of the …

We demonstrate that when the future path of the discount rate is uncertain and highly
correlated, the distant future should be discounted at significantly lower rates than …