Efficient pollution regulation equalizes marginal abatement costs across sources. We study a new flaring regulation in North Dakota and document its efficiency. The regulation reduced flaring 4 to 17 percentage points, accounting for most of the observed flaring reductions at new wells in the...

Efficient pollution regulation equalizes marginal abatement costs across sources. Here we study a new flaring regulation in North Dakota's oil and gas industry and document its efficiency. Exploiting detailed well-level data, we find that the regulation reduced flaring 4 to 7 percentage points...

Renewable portfolio standards (RPSs) are state level policies that require in-state electricity providers to procure a minimum percentage of electricity sales from renewable sources. Using theoretical and empirical models, we show how RPSs induce out-of-state emissions reductions through...

Many environmental standards are expressed in terms of intensity rather than absolute levels. In some cases, intensity standards are associated with credit trading markets to mitigate compliance costs of policy. I develop a jurisdictional model of credit trading under an intensity standard,...

We develop a spatial equilibrium model to evaluate the efficiency and distributional impacts of the leading air quality regulation in the United States: the National Ambient Air Quality Standards (NAAQS). We link our economic model to an integrated assessment model for air pollutants which...