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Economic Assessment of the Regional Clean Air Incentives Market: A New Emissions Trading Program for Los Angeles

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  • Scott Lee Johnson
  • David M. Pekelney
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    Abstract

    This article documents the methodology used to compare policy alternatives considered for RECLAIM, an emissions trading program for Los Angeles which commenced January 1994. RECLAIM reduces NO x and SO x emissions from stationary sources with declining emissions credit allocations. The emissions trading model (ETM) includes credit supply and demand, spatial restrictions, and opportunity costs of owning credits. The ETM solves interactively with a regional model that estimates economic impacts. Predicted emissions distributions are input into airshed and exposure models. The models predict similar improvements in air quality and public health as command and control regulations, but with lower costs and employment impacts.

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    File URL: http://www.jstor.org/stable/pdfplus/3147197
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    Bibliographic Info

    Article provided by University of Wisconsin Press in its journal Land Economics.

    Volume (Year): 72 (1996)
    Issue (Month): 3 ()
    Pages: 277-297

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    Handle: RePEc:uwp:landec:v:72:y:1996:i:3:p:277-297

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    Web page: http://le.uwpress.org/

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    Cited by:
    1. Sovacool, Benjamin K., 2011. "The policy challenges of tradable credits: A critical review of eight markets," Energy Policy, Elsevier, vol. 39(2), pages 575-585, February.
    2. Larson, Donald F. & Parks, Paul, 1999. "Risks, lessons learned, and secondary markets for greenhouse gas reductions," Policy Research Working Paper Series 2090, The World Bank.
    3. Fowlie, Meredith & Perloff, Jeffrey M., 2008. "Distributing Pollution Rights in Cap-and-Trade Programs: Are Outcomes Independent of Allocation?," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt70f62476, Department of Agricultural & Resource Economics, UC Berkeley.
    4. Chao-Ning Liao, 2009. "Technology adoption decisions under a mixed regulatory system of tradable permits and air pollution fees for the control of Total Suspended Particulates in Taiwan," Journal of Regulatory Economics, Springer, vol. 35(2), pages 135-153, April.
    5. Burtraw, Dallas & Evans, David A., 2009. "Tradable rights to emit air pollution," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 53(1), March.
    6. Robert W. Hahn & Robert N. Stavins, 2010. "The Effect of Allowance Allocations on Cap-and-Trade System Performance," Working Papers 2010.80, Fondazione Eni Enrico Mattei.
    7. Burtraw, Dallas & Evans, David A., 2008. "Tradable Rights to Emit Air Pollution," Discussion Papers dp-08-08, Resources For the Future.
    8. Liao, Chao-Ning, 2007. "Modelling a mixed system of air pollution fee and tradable permits for controlling nitrogen oxide: a case study of Taiwan," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 51(4), December.

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