If one nation damages another, what are its obligations? This question can be approached and understood in diverse ways, but it is concretized in debates over the social cost of carbon, which is sometimes described as the linchpin of national climate policy. The social cost of carbon, meant to...

We examine three main channels through which U.S. monetary policy shocks affect firm investment in foreign countries: (1) the balance sheet channel; (2) the financial channel of the exchange rate; and (3) the trade channel. For this purpose, we use quarterly firm-level data for 63 advanced...

Proponents of vehicle buy back programs maintain the earlier retirement of older vehicles will reduce pollution, increase income for lower-income households and stimulate the automobile industry. This paper provides a brief assessment of costs and benefits of vehicle buy-back programs. There are...

Reclamation and rehabilitation of water reservoirs is particularly important for their functioning and fulfilment of their economic, social, natural and other functions. The paper presents a case study of the ex-ante economic analysis used to determine the most suitable reservoirs reclamation...

Economic losses caused by tropical cyclones have increased dramatically. It can be assumed that most losses are due to increased prosperity and a greater tendency for people to settle in exposed areas, but also that the growing incidence of severe cyclones is due to climate change. This paper...

This paper assesses the merits of using surveys of business perceptions of growth constraints as a guide to growth-enhancing fiscal policy reforms. Using endogenous growth models in which the government levies an income tax to provide public inputs to the production of private firms, the paper...

We quantify the U.S. corporate sector's carbon externality by computing the sector's "carbon burden"--the present value of social costs of its future carbon emissions. Our baseline estimate of the carbon burden is 131% of total corporate equity value. Among individual firms, 77% have carbon...

There are many reasons to suspect that benefit-cost analysis applied to environmental policies will result in policy decisions that will reject those environmental policies. The important question, of course, is whether those rejections are based on proper science. The present paper explores...

Worldwide, all the current sustainable rating and certification systems are targeting fair and applicable rating criteria and conditions to best matching the circumstances and sustainable needs of every nation for their environmental conditions, equity needs, and economic concerns.This paper is...