chapter6externalitiesinaction-全文預(yù)覽
【正文】 expensive relative to older plants. Companies thus kept older, dirtier plants on line longer that they otherwise would. ? There’s an analogy to imposing regulation on new autos. ? Gruber calls this a consequence of “partial policy reform.” History of Acid Rain Regulation ? 1990 Clean Air Act Amendments mandated a reduction of more than 50% of the level of SO2 nationwide, and included all plants. ? It offered an SO2 allowance system that granted plants permits to emit SO2 in limited quantities, based on their historical fuel utilization. ? Plants were allowed to buy, sell, or save their allowances. ? The allowances involved very few restrictions– trading could occur anywhere within the United States, with no approval or review, and the frequency and mechanism of trading were unlimited. History of Acid Rain Regulation ? The 1990 amendments and emissions trading drew opposition from two very diverse groups: ? Those opposed on economic grounds, like utilities and coal miners. ? An industry study predicted the full cost of the regulations to be up to $ billion, with a loss of up to 4 million jobs. ? It was also opposed by environmentalists. ? They opposed the 1990 amendments on the grounds that they created a “market for vice and virtue.” History of Acid Rain Regulation ? Estimates suggest that emissions trading significantly lowered the costs of the 1990 amendments. ? Over the 19952020 period, costs were lowered from $35 billion to $15 billion. ? Thus, trading has worked to greatly improve the efficiency of regulation. ? Even environmentalists are now more sympathetic to emissions trading, because it reduces economic opposition. ? “In less than a decade, emissions trading has gone from being a pariah among policymakers to being a star.” Daniel Ellerman, expert on acid rain regulations Has the Clean Air Act Been a Success? ? The overall success of the Clean Air Act is much harder to determine. ? The regulations were costly. In its first 15 years, the Clean Air Act cost: ? 600,000 jobs. ? $75 billion in output. ? They did result in benefits, too. ? Health improvements, such as reductions in infant mortality. ? Burtraw, et al. (1997) estimate that the health benefits alone exceed the cost of reduction by a factor of seven, once the lowercost trading regime was implemented. A Second Externality Example: Global Warming ? The earth is heated by solar radiation that passes through our atmosphere and warms the earth’s surface. ? A large portion of the heat is trapped by certain gasses in the earth’s atmosphere, which reflect the heat back toward the earth again. ? This is known as the greenhouse effect. ? The concentration of green
教學(xué)課件相關(guān)推薦
鄂ICP備17016276號(hào)-1