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Registros recuperados: 88 | |
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Boyd, James. |
Financial responsibility rules are an increasingly common form of environmental regulation. Currently, the operators of landfills, underground petroleum storage tanks, offshore rigs, and oil tankers must demonstrate the existence of adequate levels of capital as a precondition to the legal operation of their businesses. Environmental financial responsibility ensures that firms possess the resources to compensate society for pollution costs created in the course of business operations. In addition to providing a source of funds for victim compensation and pollution remediation, financial responsibility is thought to motivate better decision-making, particularly regarding the management of long-term risks. This article describes both the promise of financial... |
Tipo: Working or Discussion Paper |
Palavras-chave: Financial responsibility; Environmental liability; Waste disposal; Environmental Economics and Policy; Q28; L51; K32. |
Ano: 1996 |
URL: http://purl.umn.edu/10592 |
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Parry, Ian W.H.; Oates, Wallace E.. |
This paper first describes the new literature in environmental economics on the socalled "double dividend" and then explores its implications for a broad range of economic issues. The basic finding in this literature is that in a second-best, general equilibrium setting, environmental measures raise costs and prices and thereby reduce the real wage. This rise in the cost of living reduces slightly the quantity of labor supplied in an already highly distorted labor market, giving rise to losses in social welfare that can be large relative to the basic welfare gains from improved environmental policy. These losses may be offset to some extent by using revenues (if any) from the environmental programs to reduce existing taxes on labor. This same line of... |
Tipo: Working or Discussion Paper |
Palavras-chave: Regulatory policies; Welfare effects; Pre-existing taxes; General equilibrium; Environmental Economics and Policy; L51; H23; D52. |
Ano: 1998 |
URL: http://purl.umn.edu/10687 |
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Brennan, Timothy J.; Palmer, Karen L.; Martinez, Salvador A.. |
Electricity is one of the last U.S. industries in which competition is replacing regulation. We briefly review the technology for producing and delivering power, the history of electricity policy, and recent state and international experience. We then outline the major questions facing policymakers as they decide whether, when, and how to implement restructuring. We conclude with some thoughts on the California electricity crisis and other political controversies. Although the California experience has come to define what it means for electricity markets to fail, most of the problems it raised are among those we know how to solve or prevent. The still unresolved make-or-break issue remains whether the cooperation necessary to maintain reliability is... |
Tipo: Working or Discussion Paper |
Palavras-chave: Electricity restructuring; Regulation; Deregulation; Public Economics; L51; L94; D4. |
Ano: 2001 |
URL: http://purl.umn.edu/10508 |
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Dubois, Pierre; Vukina, Tomislav. |
The objective of this paper is to develop an analytical framework for estimation of the parameters of a structural model of an incentive contract under moral hazard, taking into account agents heterogeneity in preferences. We show that allowing the principal to strategically distribute the production inputs across heterogenous agents as part of the contract design, the principal is able to change what appears to be a uniform contract into individualized contracts tailored to fit agents' preferences or characteristics. Using micro level data on swine production contract settlements, we find that contracting farmers are heterogenous with respect to their risk aversion and that this heterogeneity affects the principal's allocation of production inputs across... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Agency Contracts; Optimal Incentives; Moral Hazard; Risk Aversion; Heterogeneity; Production Economics; D82; L24; Q12; K32; L51. |
Ano: 2006 |
URL: http://purl.umn.edu/25568 |
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Palmer, Karen L.; Burtraw, Dallas. |
In the mid-1990s, when the Federal Energy Regulatory Commission was preparing to release Order 888 requiring open access to the transmission grid, the commission, environmental groups, and the Environmental Protection Agency, among others, raised the question of how open access and greater competition in wholesale electricity markets might affect the environment. If open access worked as expected, underutilized older coal-fired generators in the Midwest and elsewhere might find new markets for their power, leading to associated increases in air pollution emissions. Restructuring also might lead to retirements of inefficient nuclear facilities, whose generation would be replaced by fossil generation, further increasing emissions. On the other hand, some... |
Tipo: Working or Discussion Paper |
Palavras-chave: Electricity; Electric utilities; Regulation; Competition; Environment; Air pollution; Natural gas; Coal; Nuclear; Renewables; Customer choice; Resource /Energy Economics and Policy; L51; L94; L98. |
Ano: 2005 |
URL: http://purl.umn.edu/10656 |
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Parry, Ian W.H.; Bento, Antonio M.. |
A number of recent studies have shown that the general equilibrium welfare effects of externality-correcting policies depend importantly on pre-existing taxes in the economy, particularly those that distort the labor market. This paper extends the prior literature by allowing for consumption goods that are deductible from labor taxes. These "goods" represent medical insurance, other less tangible fringe benefits, mortgage interest, and so on. The initial tax system effectively subsidizes tax-favored consumption relative to other consumption, in addition to distorting the labor market. We find that incorporating tax-favored consumption may overturn key results from earlier studies. In particular, a revenue-neutral pollution tax (or auctioned pollution... |
Tipo: Working or Discussion Paper |
Palavras-chave: Environmental policies; Distortionary taxes; Tax deductions; Welfare effects; Environmental Economics and Policy; H23; Q28; L51. |
Ano: 1999 |
URL: http://purl.umn.edu/10737 |
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Newell, Richard G.; Jaffe, Adam B.; Stavins, Robert N.. |
We develop a methodology for testing Hick's induced innovation hypothesis by estimating a product-characteristics model of energy-using consumer durables, augmenting the hypothesis to allow for the influence of government regulations. For the products we explored, the evidence suggests: (i) the rate of overall innovation was independent of energy prices and regulations, (ii) the direction of innovation was responsive to energy price changes for some products but not for others, (iii) energy price changes induced changes in the subset of technically feasible models that were offered for sale, (iv) this responsiveness increased substantially during the period after energy-efficiency product labeling was required, and (v) nonetheless, a sizeable portion of... |
Tipo: Working or Discussion Paper |
Palavras-chave: Induced innovation; Energy efficiency; Technological change; Economic incentives; Regulation; Standards; Climate change; Resource /Energy Economics and Policy; L51; O31; O38; Q40; Q20; Q48. |
Ano: 1998 |
URL: http://purl.umn.edu/10521 |
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Ameden, Holly A.; Cash, Sean B.; Zilberman, David. |
This analysis presents a theoretical model of firm response to border enforcement and evaluates both the intended and unintended effects under two enforcement regimes: destruction versus treatment of contaminated shipments. The results indicate that importers may respond to increased inspection by reducing shipments and decreasing due care. In response to increased pest populations, firms may reduce shipments and increase due care, indicating that an enforcement response may not be necessary. The analysis reveals the importance of the nature of the due-care technology, as well as the relationships underlying the probability of detection, in determining the effects of enforcement. |
Tipo: Journal Article |
Palavras-chave: Border enforcement; Environmental regulation; Invasive species; Trade and environment; F18; L51; Q17; Q56; Q58. |
Ano: 2007 |
URL: http://purl.umn.edu/37112 |
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Fullerton, Don; Stavins, Robert N.. |
On a topic like the environment, communication among scholars from different disciplines in the natural and social sciences is both important and difficult, but such communication has been far from perfect. Economists themselves may have contributed to some rather fundamental misunderstandings about how economists think about the environment, perhaps through our enthusiasm for market solutions, perhaps by neglecting to make explicit all of the necessary qualifications, and perhaps simply by the use of jargon that has specific meaning only to other economists. In this brief essay, we seek to clarify some of these misunderstandings and thus to improve future interdisciplinary communication. We hope that natural scientists and other non-economists will take... |
Tipo: Working or Discussion Paper |
Palavras-chave: Market failure; Economic analysis; Efficiency; Equity; Environmental Economics and Policy; Q2; H4; L51. |
Ano: 1998 |
URL: http://purl.umn.edu/10910 |
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Stranlund, John K.. |
Most of the theoretical literature on enforcing environmental policies focuses on situations in which pollution sources are noncompliant. However, some recent work suggests that these situations will very often involve suboptimal policy designs. Thus, the circumstances under which it is efficient to implement policies that do not motivate full compliance appear to be more limited than most of the literature would imply. In this paper, I identify several circumstances under which regulators may conserve enforcement costs by implementing emissions taxes that firms evade. I demonstrate that a regulator can use a firm’s tax evasion to reduce monitoring effort, but only if its monitoring strategy can be made an increasing function of the firm’s emissions, if... |
Tipo: Working or Discussion Paper |
Palavras-chave: Compliance; Enforcement; Emissions Taxes; Monitoring; Sanctions; Uncertainty; Environmental Economics and Policy; Public Economics; L51; Q58. |
Ano: 2010 |
URL: http://purl.umn.edu/93967 |
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Registros recuperados: 88 | |
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