Publisher's Synopsis
How expensive is environmental regulation? How does it affect the economy? These questions gained prominence when the productivity slowdown of the 1970s coincided with increases in regulation. They have re-emerged in the current debate about the costs and benefits of fighting global warming. This edited volume includes key empirical articles spanning three decades of research on the economic impacts of environmental regulation which examine regulation?s impact on productivity, the macro-economy, plant location, trade and competitiveness, and investment decisions. Two articles debate the 'Porter hypothesis,' which argues that properly designed regulation might even be cost-reducing. The difficulties of quantifying pollution abatement benefits have been widely acknowledged, but these articles show that there is substantial uncertainty on the cost side as well. This volume will be of great interest to those concerned about optimal environmental policy, the unintended economic consequences of regulation, and the history of research in this area. -
