Markets for Clean Air: The U.S. Acid Rain Program by A. Denny EllermanMarkets for Clean Air: The U.S. Acid Rain Program by A. Denny Ellerman

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

byA. Denny Ellerman, Paul L. Joskow, Richard Schmalensee

Paperback | November 17, 2005

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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.
Title:Markets for Clean Air: The U.S. Acid Rain ProgramFormat:PaperbackDimensions:388 pages, 8.98 × 5.98 × 0.87 inPublished:November 17, 2005Publisher:Cambridge University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0521023890

ISBN - 13:9780521023894


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.

Editorial Reviews

"The book presents illuminating, well-analyzed, and clear data, allowing even those without a strong background in economics to understand the reasons for the outcomes of the acid rain program. (For those desiring more detail, the econometrics underlying this analysis is presented as well)." Environment