This study develops a theoretical general equilibrium model to examine optimal externality tax policy in the presence of externalities linked to one another through markets rather than technical production relationships. Analytical results reveal that the second-best externality tax rate may be...

This study develops a theoretical general equilibrium model to examine optimal externality tax policy in the presence of externalities linked to one another through markets rather than technical production relationships. Analytical results reveal that the second-best externality tax rate may be...

This paper considers the economic and environmental implications of regulating water and air nitrogen emissions under single and multi-environmental media policies in the U.S. hog industry. We examine tradeoffs from policies designed to correct an externality in one medium, when there are...