Taxing Variable Cost: Environmental Regulation as Industrial Policy
在战略贸易模型中评估了严格环境规制能否提升国内企业竞争力，发现仅在极特殊情况下规制能带来利润转移，但总体而言环境规制应服务于控制外部性，而非创造产业优势。
Conventional wisdom has it that a country that enacts strict environmental regulations will place its firms at a competitive disadvantage. This view has been challenged recently. Some commentators argue that stricter regulation will enhance domestic competitiveness: strict regulations induce innovation. We evaluate this argument in a strategic trade model. In very special cases a strengthening of regulation may result in a shift of profits from foreign to domestic firms. This is not a general result, however. Environmental regulation should, of course, be imposed to control externalities, but it is unlikely that it will serve to generate industrial advantage.