In recent years, cases in which state governments chose to override federal environmental regulation with tighter … paper argues that this change arose at least in part because of a shift in the type of regulation used at the federal level …, from command-and-control regulation toward more incentive-based regulation. Under an incentive-based federal regulation, a …

permits. In this paper, we examine the effect of this type of environmental regulation on profits. In particular, changes in …

Quantity-based regulation with banking allows regulated firms to shift obligations across time in response to periods …

comparative advantage of prices versus quantities. Quantity regulation that can be traded over time leads firms to set current … behavior with a sequence of quantity policy updates that achieves the first best in all periods. Under price regulation where …

relative to international competitors who do not face similar regulation. To address this issue, proposed federal climate …

A perceived advantage of cap-and-trade programs over more prescriptive environmental regulation is that enhanced …