We analyze a dynamic multi-pollutant problem where abatement costs of several pollutants are not separable. The pollutants can be either technological substitutes or complements. Environmental damage is induced by the stock of accumulated pollution. We find that optimal emission paths are...

We analyze a dynamic multi-pollutant problem where abatement costs of several pollutants are not separable. The pollutants can be either technological substitutes or complements. Environmental damage is induced by the stock of accumulated pollution. We find that optimal emission paths are...

We investigate optimal abatement strategies for cumulative and interacting pollutants. We show that different decay rates can cause non-monotonic behavior in the optimal paths of emissions, the aggregate level of pollution, and even the relative optimal price for emissions. This contrasts...

This paper quantifies the macroeconomic impacts of the Kyoto Protocol's Clean Development Mechanism (CDM) employing a computable general equilibrium model of international trade and energy use. We incorporate project-based CDM supply data in order to assess the relative importance of transaction...

We consider an economy where production generates externalities, which can be reduced by additional firm level expenditures. This requires firms to raise outside financing, leading to deadweight loss due to a standard agency problem vis-à-vis outside investors. Policy is constrained as firms...

This paper analyzes barriers for energy efficiency investments for small-and medium-sized enterprises (SMEs) in China. Based on a survey of 480 SMEs in Zhejiang Province, this study assesses financial, informational, and organizational barriers for energy efficiency investments in the SME...

In view of the controversial policy debate on “green” growth and corresponding stimulus packages we empirically investigate the production effects of environmental investment as well as of environmental and energy expenditures. Using a panel dataset of German manufacturing sectors our...