, it is not also a necessary condition. -- Emissions Trading ; Environmental Federalism ; Enforcement ; Monitoring Cost …

Economists generally view environmental enforcement as a tool to secure compliance with regulations. This paper … demonstrates that credible enforcement significantly increases statutory overcompliance with regulations as well. We find that many … reductions required by law. Thus, increased enforcement generates substantial discharge reductions above and beyond those …

in enforcement may lead regulators to restrict the use of offsets. In this paper, we demonstrate that allowing offsets … may increase pollution abatement and reduce illegal pollution, even if the government has a fixed enforcement budget. We … explore the circumstances that may make it preferable to allow offsets when enforcement is costly …