We study self-enforcing international environmental agreements (IEAs) in a model with symmetric countries, international trade, and emission tax policy and find that the first-best global IEA may be self-enforcing. This is in sharp contrast to the known case of cap-and-trade policy in which self-enforcing IEAs have fewer signatories and fail to achieve significant improvements in welfare and da…

This book is intended for use in a rigorous introductory PhD level course in econometrics, or in a field course in econometric theory. It covers the measure-theoretical foundation of probability theory, the multivariate normal distribution with its application to classical linear regression analysis, various laws of large numbers, central limit theorems and related results for independent rando…