This paper analyzes the effects of the New Source Review (NSR) environmental regulations on coal-fired electric power plants.  Regulations that grew out of the Clean Air Act of 1970 required new electric generating plants to install costly pollution control equipment but exempted existing...

Designing an emissions trading scheme requires in-depth knowledge about several aspects. This paper attempts to clarify some important design points of the forthcoming emissions trading scheme for aviation under the EU ETS. Five general key points of system design are acknowledged and...

This article analyzes the impact of market power on a transferable emissions permit system (TEPS). The application is carried out for the case of the "Programa de Compensación de Emisiones" in the city of Santiago, Chile, using data for 1997. In addition

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...

We examine the effect of more stringent environmental regulation on the dynamic structure of a deterministic competitive industry with endogenous entry and exit where firms invest in reduction of their future compliance cost. The level of regulation is exogenously fixed and constant over time....

This article analyzes the cost-effective property of a transferable emissions permit system (TEPS) vis à vis a command and control environmental regulation. In contrast with the previous literature, our analysis consider, in addition to the abatement costs, the cost of enforcing each regulatory...

This paper develops an analytical framework for studying the Baumol-Oates efficiency of traditional single instrument abatementpolicies vis-à-vis green defaults in the face of price inertia and deliberate defaultingby subpopulations. In this special case ofbehavioural heterogeneity, command and...

This paper explores firms' response to regulatory enforcement. New Source Review, a provision of the Clean Air Act, imposes stringent emissions limitations on significantly modified older power plants. In 1999, the EPA sued owners of 46 plants for NSR violations. We study how electricity...

A low carbon fuel standard (LCFS) seeks to reduce greenhouse gas emissions by limiting a fuel producer's carbon emissions per unit of output. California has launched an LCFS for transportation fuels; others have called for a national LCFS. We show that this policy decreases production of...

Using a unique plant-level dataset we examine total factor productivity (TFP) growth and its components, related to efficiency change and technical change. The data we use is from Sweden and for their pulp and paper industry, which is heavily regulated due to its historically large contribution...