This research examines the technological diffusion of scrubbers, a sulfur dioxide (SO2) abatement technology, in response to Title IV of the Clean Air Act. Title IV implemented a tradable pollution permit system for SO2, which is radically different from the state emission rate standards that...

This paper examines how the demand for commodities adjusts to supply shocks, and shows the importance of capturing this adjustment process when calculating welfare effects. A dynamic capital adjustment model for U.S. softwood stumpage markets is developed, and compared to a traditional lagged...

It remains an open question whether the impact of environmental regulations differs by the size of the business. Such differences might be expected because of statutory, enforcement, and/or compliance asymmetries. Here, we consider the net effect of these three asymmetries, by estimating the...

It remains an open question whether the impact of environmental regulations differs by the size of the business. Such differences might be expected because of statutory, enforcement, and/or compliance asymmetries. Here, we consider the net effect of these three asymmetries, by estimating the...