Leakage from forest carbon sequestrationthe amount of a program's direct carbon benefits undermined by carbon releases elsewheredepends critically on demanders' ability to substitute non-reserved timber for timber targeted by the program. Analytic, econometric, and sector-level optimization...

This paper describes a new, industry-adjusted index of state environmental compliance costs from 1977 to 1994. The index has two principal advantages: it controls for states' industrial compositions, and it can be calculated for 17 years, thus facilitating comparisons both among states and...