Markets for clean air
Subtitle: the U.S. acid rain program
By: A. Denny Ellerman ... [et al.].
Contributors: Ellerman, A. Denny.
Publisher: Cambridge University Press
Published: 2005
Place of publication: New York, NY
Language: eng
Number of pages: 362
Subjects: Emissions trading -- United States; Air quality management -- Government policy -- United States; Acid rain -- Environmental aspects -- Government policy -- United States
Description: 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.
Notes: Includes bibliographical references (p. 343-352) and index.
Table of contents: title: Market-based experiment; title: A political history of federal acid rain legislation; title: The political economy of allowance allocations; title: The pre-1995 trend in SO₂ emissions; title: Title IV compliance and emission reductions, 1995-97; title: Emissions trading: the effect on abatement behavior; title: Emissions trading: development of the allowance market; title: Title IVs voluntary compliance program; title: Cost of compliance with title IV in phase I; title: Cost savings from emissions trading; title: Errors, imperfections, and allowance prices; title: Concluding observations.