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Muller, Nicholas Z., and
Robert Mendelsohn. 2009. "Efficient Pollution Regulation: Getting the Prices Right."
,
99(5): 1714-39.
Show Article Details
DOI: 10.1257/aer.99.5.1714
Abstract:This paper argues for efficient environmental regulations that equate the marginal
damage of pollution to marginal abatement costs across space. The paper
estimates the source-specific marginal damages of air pollution and calculates
the welfare gain from making the current sulfur dioxide allowance trading program
for power plants more efficient. The savings from using trading ratios
based on marginal damages are between $310 and $940 million per year. The
potential savings from setting aggregate emissions efficiently and from including
more sources of air pollution are many times higher. (JEL H23, Q53, Q58)
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Authors:
Muller, Nicholas Z. (Middlebury College)
Mendelsohn, Robert (Yale U)
JEL Classifications:
H23: Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies
Q53: Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
Q58: Environmental Economics: Government Policy
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