This article introduces a method to quantify the effect of a firm’s strategic choices on the risk profile of its profits at different horizons. We combine a demand system for differentiated products with counterfactual paths of risk factors. Prices, costs and quantities respond endogenously to...

The notion of ‘sustainable development’ was introduced on the political agenda by the World Commission on Environment and Development through its report (WCED, 1987), also called the Brundtland Report. Since the publication of the Brundtland Report the notion of sustainability has been used...

We develop a theory of macroeconomic development based on the novel concept of savings multiplier: capital accumulation changes relative prices and income shares between generations, creating further incentives to accumulate and thereby rising saving rates as the economy develops. The savings...

We propose a test of the Porter hypothesis for the Dutch horticulture sector, using a stochastic production frontier analysis allowing for an inclusion of policy variables to account for the effect of environmental policy of firm performance. We find considerable heterogeneity in the way firms...

Environmental policymakers must address the adverse effects of a number of pollutants that accumulate in the environment. Goals for the regulation of these damages often involve holding long-term emissions below a level deemed to be "dangerous", or outright banning of offending products or...

Empirical evaluation of policies to mitigate climate change has been largely confined to the application of discounted utilitarianism (DU). DU is contro-versial, both due to the conditions through which it is justifed and due to its consequences for climate policies, where the discounting of...