Do Driving Restrictions Reduce Congestion? Lessons from Beijing Ping Qin and Jintao Xu
A policy to restrict driving in Beijing has not made a significant impact on traffic congestion in the city, but it has shed light on how people react to these bans. A recent study of the rule breakers reveals some of the challenges facing such a policy.
Groundwater Markets: Managing a Critical, Hidden Resource Yusuke Kuwayama
Although 95 percent of usable freshwater comes from underground, withdrawals of this water are largely unmonitored and unregulated in the United States. By developing groundwater markets, governments can provide an incentive for more sustainable pumping of this critical resource.
Reflections on the Oil Shock of 40 Years Ago Joel Darmstadter
A look back on the oil price shock of 1973–1974 produces a number of important lessons, from the increased resiliency that energy efficiency affords to the risks lurking behind the ideal of energy independence.