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Economics, Economists, and Environmental Policy

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  • Wallace E. Oates

    (University of Maryland)

Abstract

This paper is the Presidential Address to the Sixteenth Annual Convention of the Eastern Economic Association. It offers some reflections on the role that economics has, and can, play in the determination of environmental policy. These reflections address the choice of policy instruments for pollution control and the locus of regulatory authority. A review of economic instruments suggests that effluent fees may offer more protection against costly errors than does a system of transferable emission permits. Compelling arguments exist for greater decentralization of some environmental measures; environmental federalism can allow for measures that are tailored more closely to "local" conditions.

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File URL: http://college.holycross.edu/RePEc/eej/Archive/Volume16/V16N4P289_296.pdf
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Bibliographic Info

Article provided by Eastern Economic Association in its journal Eastern Economic Journal.

Volume (Year): 16 (1990)
Issue (Month): 4 (Oct-Dec)
Pages: 289-296

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Handle: RePEc:eej:eeconj:v:16:y:1990:i:4:p:289-296

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Postal: c/o Dr. Alexandre Olbrecht, The Anisfield School of Business 205, Ramapo College, 505 Ramapo Valley Road, Ramapo, New Jersey 07430, USA
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Web page: http://www.ramapo.edu/eea/journal.html
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  1. Terkla, David, 1984. "The efficiency value of effluent tax revenues," Journal of Environmental Economics and Management, Elsevier, vol. 11(2), pages 107-123, June.
  2. Peltzman, Sam & Tideman, T Nicolaus, 1972. "Local versus National Pollution Control: Note," American Economic Review, American Economic Association, vol. 62(5), pages 959-63, December.
  3. Hahn, Robert W, 1989. "Economic Prescriptions for Environmental Problems: How the Patient Followed the Doctor's Orders," Journal of Economic Perspectives, American Economic Association, vol. 3(2), pages 95-114, Spring.
  4. M. L. Weitzman, 1973. "Prices vs. Quantities," Working papers 106, Massachusetts Institute of Technology (MIT), Department of Economics.
  5. Mestelman, Stuart, 1982. "Production externalities and corrective subsidies: A general equilibrium analysis," Journal of Environmental Economics and Management, Elsevier, vol. 9(2), pages 186-193, June.
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