Markets for Clean Air: The U.S. Acid Rain Program

Markets for Clean Air: The U.S. Acid Rain Program

by A. Denny Ellerman, Paul L. Joskow, Richard Schmalensee, Juan-Pablo Montero
     
 

ISBN-10: 0521023890

ISBN-13: 9780521023894

Pub. Date: 11/17/2005

Publisher: Cambridge University Press

Markets for Clean Air provides a comprehensive, in-depth description and evaluation of the first three years' experience with the U.S. Acid Rain Program. This environmental control program is the world's first large-scale use of a tradable emission permit system for achieving environmental goals. The book analyzes the behavior and performance of the market for

Overview

Markets for Clean Air provides a comprehensive, in-depth description and evaluation of the first three years' experience with the U.S. Acid Rain Program. This environmental control program is the world's first large-scale use of a tradable emission permit system for achieving environmental goals. The book analyzes the behavior and performance of the market for emissions permits, called allowances in the Acid Rain Program, and quantifies emission reductions, compliance costs, and cost savings associated with the trading program. The book also includes chapters on the historical context in which this pioneering program developed and the political economy of allowance allocations.

Product Details

ISBN-13:
9780521023894
Publisher:
Cambridge University Press
Publication date:
11/17/2005
Pages:
388
Product dimensions:
5.98(w) x 8.98(h) x 0.87(d)

Table of Contents

List of illustrations; List of tables; Authors; Preface; Acknowledgments; 1. A market-based experiment; 2. A political history of Federal Acid Rain Legislation; 3. The political economy of allowance allocations; 4. The pre-1995 trend in SO2 emissions; 5. Title IV compliance and Emission reductions, 1995–97; 6. Emissions trading: the effect on abatement behavior; 7. Emissions trading: development of the allowance market; 8. Title IV's voluntary compliance program; 9. The cost of compliance with the Title IV in Phase I; 10. Cost savings from emissions trading; 11. Errors, imperfections, and allowance prices; 12. Concluding observations.

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