technology is used and TFP and per capita income are as large as is possible. Second, under a quota the best technology may or … growth rates are the same across all three trade policy regimes but abandoning a quota leads to a short–term increase in …

This Paper develops a continuous-time two-sector model to study the economic effects of an import quota during the … period of time over which it is imposed. One of the sectors is protected by a quota, which in our set-up manifests itself as … import and no-trade regions, even when the quota is underutilized – in contrast, existing work predicts no economic effects …

The US Corporate Average Fuel Economy (CAFE) regulation mandates, subject to a civil penalty, producers to achieve a … affords differential tax treatment to car models with identical fuel economy, and therefore differential incentives for …

is to accumulate more precautionary capital to smooth consumption and to levy a carbon tax, proportional to the marginal … hazard of a catastrophe, to curb the risk of climate change. The carbon tax holds down the stock of greenhouse gases, so that … damages and decompose the optimal carbon tax in two catastrophe components and a conventional Pigouvian component. Further …

goods, oil and bonds. Acceleration of global warming resulting from a future carbon tax is large if the price elasticities … cumulative emissions is strong enough. If the current carbon tax is too low, the second-best future carbon tax is set below the …-best taxes due to an import tariff component. The intertemporal terms of trade effects of the future carbon tax increase current …

If some, but not all, countries are cooperating to reduce CO2 emissions, it can be argued that: A high carbon tax on … other countries. Carbon-intensive tradable sectors should thus face a lower carbon tax than other sectors of the economy ….The paper shows that a carbon tax should not be differentiated across sectors in the economy, provided import and export tariffs …