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The Effects of Vintage-Differentiated Environmental Regulation AgEcon
Stavins, Robert N..
Vintage-differentiated regulations (VDRs) are standards that are fixed with respect to the date of entry of regulated units, with later vintages facing more stringent standards. VDRs play prominent roles under major Federal, state, and local environmental laws. This paper synthesizes what is known about the effects of environmental VDRs, and develops lessons for public policy and for research. Economic theory suggests that such age-discriminatory regulations retard turnover of the capital stock, drive up the cost of environmental protection, and can increase pollution levels. Empirical studies validate theoretical predictions that VDRs delay replacement of durable goods, and thereby increase aggregate pollution abatement costs. In some cases, empirical...
Tipo: Working or Discussion Paper Palavras-chave: Vintage-differentiated regulation; New source review; Cost-effective environmental regulation; Environmental Economics and Policy; Q580; Q550; Q520; Q530; L510.
Ano: 2005 URL: http://purl.umn.edu/10796
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The Effect of Allowance Allocations on Cap-and-Trade System Performance AgEcon
Hahn, Robert W.; Stavins, Robert N..
We examine an implication of the “Coase Theorem” which has had an important impact both on environmental economics and on public policy in the environmental domain. Under certain conditions, the market equilibrium in a cap-and-trade system will be cost-effective and independent of the initial allocation of tradable rights. That is, the overall cost of achieving a given aggregate emission reduction will be minimized, and the final allocation of permits will be independent of the initial allocation. We call this the independence property. This property is very important because it allows equity and efficiency concerns to be separated in a relatively straightforward manner. In particular, the property means that the government can establish the overall...
Tipo: Working or Discussion Paper Palavras-chave: Cap-and-Trade System; Tradable Permits; Coase Theorem; Allowance Allocation; Environmental Economics and Policy; Q580; H110; L510.
Ano: 2010 URL: http://purl.umn.edu/92707
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Interactions between State and Federal Climate Change Policies AgEcon
Goulder, Lawrence H.; Stavins, Robert N..
Federal action addressing climate change is likely to emerge either through new legislation or via the U.S. EPA’s authority under the Clean Air Act. The prospect of federal action raises important questions regarding the interconnections between federal efforts and state-level climate policy developments. In the presence of federal policies, to what extent will state efforts be cost-effective? How does the co-existence of state- and federal-level policies affect the ability of state efforts to achieve emissions reductions? This paper addresses these questions. We find that state-level policy in the presence of a federal policy can be beneficial or problematic, depending on the nature of the overlap between the two systems, the relative stringency of...
Tipo: Working or Discussion Paper Palavras-chave: Global Climate Change; Federalism; Cap-And-Trade; Carbon Tax; Regulation; Environmental Economics and Policy; H110; H770; K320; L510; Q480; Q540.
Ano: 2010 URL: http://purl.umn.edu/93413
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Analysis of the Economic Effects of Requiring Post-harvest Processing for Raw Oysters AgEcon
Muth, Mary K.; Viator, Catherine; Karns, Shawn A..
Tipo: Conference Paper or Presentation Palavras-chave: Oysters; Post-harvest processing; Hydrostatic pressure; Cool pasteurization; GIS; Agricultural and Food Policy; Food Consumption/Nutrition/Food Safety; L510; Q180; Q220.
Ano: 2011 URL: http://purl.umn.edu/103814
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