The sulfur dioxide allowance-trading program in the USA: recent developments and lessons to be learned
AbstractThe US Allowance Trading Program, which is an emission-trading program for sulfur dioxide, was put into effect on 1 January 1995. It is the first comprehensive attempt in US air-quality policy to practice the idea of emission trading. More than two years after its implementation, the allowance market offers the unique opportunity of evaluating the efficiency of tradeable-permit markets on a practical basis, rather than a solely theoretical one. The author analyzes the recent developments in the allowance-trading market and alternative 'explanations' used in attempts to explain low trading activity and low allowance prices. The author concludes that the present allowance price will prove to be equal to the abatement costs; the allowance-trading program is not only�ecologically effective but is also economically efficient; and it plays an important role in the development of future tradeable-permits markets.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Pion Ltd, London in its journal Environment and Planning C: Government and Policy.
Volume (Year): 16 (1998)
Issue (Month): 3 (June)
Contact details of provider:
Web page: http://www.pion.co.uk
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Chao, Hung-Po & Wilson, Robert, 1993. "Option Value of Emission Allowances," Journal of Regulatory Economics, Springer, vol. 5(3), pages 233-49, September.
- Cason, Timothy N. & Plott, Charles R., 1996. "EPA's New Emissions Trading Mechanism: A Laboratory Evaluation," Journal of Environmental Economics and Management, Elsevier, vol. 30(2), pages 133-160, March.
- Kirchgassner, Gebhard & Schneider, Friedrich, 2003.
" On the Political Economy of Environmental Policy,"
Springer, vol. 115(3-4), pages 369-96, June.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Neil Hammond).
If references are entirely missing, you can add them using this form.