This essay examines the issues of equity and efnciency in the use of global environmental resources, with the atmosphere as a case in point. It shows a somewhat unexpected connection between the two issues in the context of international greenhouse gas emissions trading markets. Contrary to...

This two-volume collection brings together critical essays on the economics of climate change, describing advances in the field ranging from the Kyoto Protocol carbon market, to sustainability criteria, international trade, and the management of catastrophic risks.

It has been said that insurance is the last of the financial services to accept radical change (Denney [1995-1996]). Yet there has been a fundamental shift in the geographic location and in the organization of the reinsurance industry in the last six years (Chichilnisky [19966]). Global...

Current changes in Latin America include the abandonment of the economic pattern of import substitution, a growing opening of the national economies, a continental wave of political democratization, an apparent economic recovery from the "lost decade" (the 1980s), a growing social polarization,...