Efficiency and Distributional Aspects of Market Mechanisms in the Control of Pollution: An Empirical analysis
AbstractThe cost-saving advantages of market mechanisms such as tradable permits and emission taxes have been promoted by economists since the early 1970s. The research reported in this paper simulates their application to the Forth Estuary in Scotland comparing such policies with regulation of output levels for emissions. Potential resource cost savings are identified under two alternative targets. However, there are serious obstacles to the attainment of these savings. We also consider the distributional aspects of the policy alternatives.
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Bibliographic InfoPaper provided by Queen's University, Department of Economics in its series Working Papers with number 842.
Date of creation: Jan 1992
Date of revision:
water pollution control: tradable permits; emission taxes; biological oxygen demand;
Other versions of this item:
- Hanley, Nick D & Moffatt, Ian, 1993. "Efficiency and Distributional Aspects of Market Mechanisms in the Control of Pollution: An Empirical Analysis," Scottish Journal of Political Economy, Scottish Economic Society, vol. 40(1), pages 69-87, February.
- Nick Hanley & Ian Moffatt, 1992. "Efficiency and Distributional Aspects of Market Mechanisms in the Control of Pollution: An Empirical Analysis," Working Papers Series 92/2, University of Stirling, Division of Economics.
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