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Taxesversus tradable discharge permits: A review in the light of the U.S. and European experience

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  • Charles Howe
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    Abstract

    The U.S. and West European environmental protection programs have incorporated different economic instruments for controlling pollution. The U.S. has made extensive use of tradable permits of several forms but has never used direct pollution taxes. The countries of the European Community have long used an array of pollution taxes but have never used tradable permits. A review and critique of these experiences and an analysis of the attributes of taxes and tradable permits seeks identify the strengths and weaknesses of each instrument and to provide guidelines for the successful implementation of each system. Copyright Kluwer Academic Publishers 1994

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    Bibliographic Info

    Article provided by European Association of Environmental and Resource Economists in its journal Environmental & Resource Economics.

    Volume (Year): 4 (1994)
    Issue (Month): 2 (April)
    Pages: 151-169

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    Handle: RePEc:kap:enreec:v:4:y:1994:i:2:p:151-169

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    Web page: http://www.springerlink.com/link.asp?id=100263

    Related research

    Keywords: Tradable permits; effluent taxes; environmental policy;

    References

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    1. Krupnick, Alan J., 1986. "Costs of alternative policies for the control of nitrogen dioxide in Baltimore," Journal of Environmental Economics and Management, Elsevier, vol. 13(2), pages 189-197, June.
    2. McGartland, Albert, 1988. "A comparison of two marketable discharge permits systems," Journal of Environmental Economics and Management, Elsevier, vol. 15(1), pages 35-44, March.
    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. Henk Folmer & Charles Howe, 1991. "Environmental problems and policy in the Single European Market," Environmental & Resource Economics, European Association of Environmental and Resource Economists, European Association of Environmental and Resource Economists, vol. 1(1), pages 17-41, March.
    5. McGartland, Albert M. & Oates, Wallace E., 1985. "Marketable permits for the prevention of environmental deterioration," Journal of Environmental Economics and Management, Elsevier, vol. 12(3), pages 207-228, September.
    6. John Merrifield, 1990. "A critical overview of the evolutionary approach to air pollution abatement policy," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 9(3), pages 367-380.
    7. Buchanan, James M & Tullock, Gordon, 1975. "Polluters' Profits and Political Response: Direct Controls Versus Taxes," American Economic Review, American Economic Association, vol. 65(1), pages 139-47, March.
    8. Hahn, Robert W., 1982. "Market Power and Transferable Property Rights," Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences 402, California Institute of Technology, Division of the Humanities and Social Sciences.
    9. Krupnick, Alan J. & Oates, Wallace E. & Van De Verg, Eric, 1983. "On marketable air-pollution permits: The case for a system of pollution offsets," Journal of Environmental Economics and Management, Elsevier, vol. 10(3), pages 233-247, September.
    10. Cason Timothy N., 1993. "Seller Incentive Properties of EPA's Emission Trading Auction," Journal of Environmental Economics and Management, Elsevier, vol. 25(2), pages 177-195, September.
    11. J. H. Dales, 1968. "Land, Water, and Ownership," Canadian Journal of Economics, Canadian Economics Association, vol. 1(4), pages 791-804, November.
    12. Montgomery, W. David, 1972. "Markets in licenses and efficient pollution control programs," Journal of Economic Theory, Elsevier, vol. 5(3), pages 395-418, December.
    13. Randolph M. Lyon, 1982. "Auctions and Alternative Procedures for Allocating Pollution Rights," Land Economics, University of Wisconsin Press, vol. 58(1), pages 16-32.
    14. Malueg, David A., 1990. "Welfare consequences of emission credit trading programs," Journal of Environmental Economics and Management, Elsevier, vol. 18(1), pages 66-77, January.
    15. Adar, Zvi & Griffin, James M., 1976. "Uncertainty and the choice of pollution control instruments," Journal of Environmental Economics and Management, Elsevier, vol. 3(3), pages 178-188, October.
    16. Noll, Roger G, 1982. "Implementing Marketable Emissions Permits," American Economic Review, American Economic Association, vol. 72(2), pages 120-24, May.
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    Cited by:
    1. Olivier Godard & Christine Cros, 1998. "The economic design of a potential tradable permit system for SO2 emissions in the European Union," Post-Print hal-00622840, HAL.
    2. Helfand, Gloria E. & Berck, Peter & Maull, Tim, 2003. "The theory of pollution policy," Handbook of Environmental Economics, Elsevier, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 1, chapter 6, pages 249-303 Elsevier.
    3. Wood, Peter J. & Heindl, Peter & Jotzo, Frank & Löschel, Andreas, 2013. "Linking price and quantity pollution controls under uncertainty," ZEW Discussion Papers 13-025, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    4. Wooders, M. & Zissimos, B., 2001. "The Efficiency, Equity and Politics of Emission Permit Trading," The Warwick Economics Research Paper Series (TWERPS) 586, University of Warwick, Department of Economics.
    5. Farrow, Scott, 1995. "The dual political economy of taxes and tradable permits," Economics Letters, Elsevier, vol. 49(2), pages 217-220, August.
    6. Catherine Boemare & Philippe Quirion, 2002. "Implementing greenhouse gas trading in Europe: lessons from economic literature and international experiences," Post-Print halshs-00007264, HAL.
    7. Coria, Jessica, 2011. "Environmental crises' regulations, tradable permits and the adoption of new technologies," Resource and Energy Economics, Elsevier, vol. 33(3), pages 455-476, September.
    8. Heindl, Peter & Voigt, Sebastian, 2011. "A practical approach to offset permits in post Kyoto climate policy," ZEW Discussion Papers 11-043, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.

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