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Addressing Global Environmental Externalities : Transaction Costs Considerations

Libecap, Gary D. - 2014

analysis. This approach views international cooperation as a contractual process among country leaders to assign those property … value and stand to gain from multilateral action. Property rights are supplied by international agreements that specify …-valued national parks, implement the Convention on the International Trade in Endangered Species (CITES), execute the Montreal …

Persistent link: https://www.econbiz.de/10013062612

Risk Aversion, Liability Rules, and Safety

Zivin, Joshua S. Graff; Just, Richard E.; Zilberman, David - 2021

This paper investigates the performance of liability rules in two-party stochastic externality problems where negotiations are feasible and side payments are based on the realized level of externalities. Results show that an increase in polluter liability does not necessarily increase safety or...

Persistent link: https://www.econbiz.de/10013223861

The Purpose of Trade Agreements

Grossman, Gene M. - 2016

This paper reviews the literature on governments' motivations for negotiating and joining international trade …

Persistent link: https://www.econbiz.de/10012996887

Trade and Environment : Bargaining Outcomes from Linked Negotiations

Abrego, Lisandro E.; Perroni, Carlo; Whalley, John; … - 2022

Recent literature has explored both physical and policy linkage between trade and environment. Here we explore linkage through leverage in bargaining, whereby developed countries can use trade policy threats to achieve improved developing country environmental management, while developing...

Persistent link: https://www.econbiz.de/10013310133

Optimal Emission Pricing in the Presence of International Spillovers : Decomposing Leakage and Terms-of-Trade Motives

Böhringer, Christoph - 2010

Carbon control policies in OECD countries commonly differentiate emission prices in favor of energy-intensive industries. While leakage provides a efficiency argument for differential emission pricing, the latter may be a disguised beggar-thy-neighbor policy to exploit terms of trade. Using an...

Persistent link: https://www.econbiz.de/10013144964

Coasean Bargaining to Address Environmental Externalities

Libecap, Gary D. - 2016

I examine Ronald Coase's criticism of standard regulatory and tax policies to address environmental externalities. I elaborate some of Coase's key points and discuss opportunities for Coasean exchange as an alternative mitigation approach. Regulation, tax, and Coasean exchange, such as through...

Persistent link: https://www.econbiz.de/10013000533

How a Minimum Carbon Price Commitment Might Help to Internalize the Global Warming Externality

Weitzman, Martin L. - 2016

It is difficult to resolve the global warming free-rider externality problem by negotiating many different quantity targets. By contrast, negotiating a single internationally-binding minimum carbon price (the proceeds from which are domestically retained) counters self-interest by incentivizing...

Persistent link: https://www.econbiz.de/10012993242

Payment for Environmental Services : Hypotheses and Evidence

Alston, Lee J. - 2013

The use of Payment for Environmental Services (PES) is not a new type of contract but they have become more in vogue because of the potential for sequestering carbon by paying to prevent deforestation and degradation of forest lands. We provide a framework utilizing transaction costs to...

Persistent link: https://www.econbiz.de/10013087879

Environmental, Social, and Governance Criteria : Why Investors are Paying Attention

Jagannathan, Ravi - 2017

We find that money managers could reduce portfolio risk by incorporating Environmental, Social, and Governance (ESG) criteria into their investment process. ESG-related issues can cause sudden regulatory changes and shifts in consumer tastes, resulting in large asset price swings which leave...

Persistent link: https://www.econbiz.de/10012941986

Tipping Climate Negotiations

Heal, Geoffrey - 2011

argue that international climate negotiations may form such a game and so have a tipping set. This set is a small group of …

Persistent link: https://www.econbiz.de/10013127015