The So2 Allowance-Trading System And The Clean Air Act Amendments Of 1990: Reflections On 20 Years Of Policy Innovation
AbstractThe introduction of the U.S. SO2 allowance-trading program to address the threat of acid rain as part of the Clean Air Act Amendments of 1990 is a landmark event in the history of environmental regulation. The program was a great success by almost all measures. This paper, which draws upon a research workshop and a policy roundtable held at Harvard in May 2011, investigates critically the design, enactment, implementation, performance, and implications of this path-breaking application of economic thinking to environmental regulation. Ironically, cap-and-trade seems especially well suited to addressing the problem of climate change, in that emitted greenhouse gases are evenly distributed throughout the world’s atmosphere. Recent hostility toward cap-and-trade in debates about U.S. climate legislation may reflect the broader political environment of the climate debate more than the substantive merits of market-based regulation.
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Bibliographic InfoArticle provided by National Tax Association in its journal National Tax Journal.
Volume (Year): 65 (2012)
Issue (Month): 2 (June)
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- Richard Schmalensee & Robert N. Stavins, 2012.
"The SO2 Allowance Trading System: The Ironic History of a Grand Policy Experiment,"
2012.60, Fondazione Eni Enrico Mattei.
- Schmalensee, Richard & Stavins, Robert N., 2012. "The SO2 Allowance Trading System: The Ironic History of a Grand Policy Experiment," Working Paper Series rwp12-030, Harvard University, John F. Kennedy School of Government.
- Stavins, Robert Norman & Schmalensee, Richard, 2012. "The SO2 Allowance Trading System: The Ironic History of a Grand Policy Experiment," Scholarly Articles 9368024, Harvard Kennedy School of Government.
- Richard Schmalensee & Robert Stavins, 2012. "The SO2 Allowance Trading System: The Ironic History of a Grand Policy Experiment," NBER Working Papers 18306, National Bureau of Economic Research, Inc.
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