The recent approach ‘subgame consistency’ in cooperative stochastic differential games by Yeung and Petrosjan (2006) and Yeung and Petrosjan (2004) is applied to the classical Coase theorem in the presence of stochastic stock externalities. The dynamic Coasean bargaining solution is...

This study analyses the evolution of greenhouse gas (GHG) emissions and acidification emissions for Italy in the years 1995-2005. Looking at data, while emissions that contribute to the local problem of acidification have been decreasing quite constantly, GHG emissions have been showing a slight...

We propose a method for estimating hurdle rates for firms’ investments in pollution abatement technology, using ex post data. The method is based on a structural option value model where the future price of polluting fuel is the major source of uncertainty facing the firm. The econometric...

The relationships between economic growth and environmental pressures are complex. Since the early nineties, the debate on these relationships has been strongly influenced by the Environmental Kuznets Curve hypothesis, which states that during the first stage of economic development...

In this paper, we explore the relationship between state-level household income inequality and macroeconomic uncertainty in the United States. Using a novel large-scale macroeconometric model, we shed light on regional disparities of inequality responses to a national uncertainty shock. The...

This study investigates the determinants of transfer of waste between the affected areas and other municipalities that resulted from the Great East Japan Earthquake. In particular, we investigate to what extent economic factors, but also social factors such as reciprocity and pro-social...

Policy makers worldwide are interested in the identification of cost-effective policy instruments to reduce diffuse pollution. A large economic model representing heterogeneous farms is used to evaluate a broad set of policies for reducing nitrate regulation within a large catchment dominated by...

The European Union’s Emissions Trading Scheme (EU-ETS) is so far the largest emissions trading system in the world. It covers about 12000 installations, representing approximately 45% of EU emissions of CO2, with the objective to establish a carbon price creating incentives for cost efficient...

Santiago was one of the first cities outside the OECD to implement a tradable permit program to control air pollution. This paper looks closely at the program’s performance over the past ten years, stressing its similarities and discrepancies with trading programs implemented in developed...

This paper analyzes the marginal willingness to pay for changes in noise levels related to changes in the volume of flight movements at a city airport in Stockholm, Sweden,by using a choice experiment. When estimating marginal willingness to pay for different times of the day and days of the...