In the absence of sustained federal leadership to address climate change, many US states and cities have implemented their own climate policies. In 2018, the State of Hawai‘i set a goal of sequestering more greenhouse gases (GHGs) annually than emitted no later than 2045. This study builds a...

The expansion of markets and industrialization greatly increased the benefits of specialization in the U.S. economy. However, since the benefits of specialization can only be realized through trade, specialization significantly increases the volume of market transactions in the economy. The...