The Clean Air Act Amendments and Firm Investment in Pollution Abatement Equipment
AbstractThe command-and-control approach to environmental regulation requires that firms install prescribed technologies to meet specified goals. However, environmental regulations change frequently; in addition, the enforcement agency cannot perfectly monitor firm compliance. We examine the impact of uncertainties surrounding the enactment and the enforcement of the Clean Air Act Amendments of 1990 on firm investment in air pollution abatement equipment. We find that our measures of the likelihood ofCAAA passage clearly affect a firm’s investment in pollution equipment. Enforcement actions also affect a firm’s investment, but these effects are weaker and are statistically significant only after enactment.
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Bibliographic InfoArticle provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 80 (2004)
Issue (Month): 3 ()
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Web page: http://le.uwpress.org/
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- Q21 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Demand and Supply; Prices
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- Stefanie Haller & Liam Murphy, 2012.
"Corporate Expenditure on Environmental Protection,"
Environmental & Resource Economics, European Association of Environmental and Resource Economists,
European Association of Environmental and Resource Economists, vol. 51(2), pages 277-296, February.
- Haller, Stefanie & Murphy, Liam, 2010. "Corporate Expenditure on Environmental Protection," Papers, Economic and Social Research Institute (ESRI) WP347, Economic and Social Research Institute (ESRI).
- Wilson, Nathan E., 2012. "Uncertain regulatory timing and market dynamics," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 30(1), pages 102-115.
- Jaraite, Jurate & Kažukauskas, Andrius & Lundgren, Tommy, 2012. "Determinants of Environmental Expenditure and Investment: Evidence from Sweden," CERE Working Papers, CERE - the Center for Environmental and Resource Economics 2012:7, CERE - the Center for Environmental and Resource Economics.
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