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Examining Trends of Criteria Air Pollutants: Are the Effects of Governmental Intervention Transitory?

  • Junsoo Lee

    ()

  • John List

Despite its growth in other areas of economics,time series econometric methods have not beenwidespread in the area of environmental andresource economics. We illustrate one use oftime series methods by examining the time pathof US nitrogen oxide (NO x) emission dataover the period 1900–1994. The analysishighlights that proper time series methods canaid in optimal regulatory policy as well asdeveloping empirical verification of theoriesput forth to explain economic phenomena. Inaddition, several interesting results emerge. First, we find that the emissions seriescontains both a permanent and random component. Second, if one attributed all of the emissionsreductions to regulatory policy, interventionanalysis suggests that the 1970 Clean Air Act(CAA) did not merely have transitory effects,but permanently influenced the NO xemission path. In terms of total regulatoryimpact, an upper bound on the emissions saveddue to the 1970 CAA is in the range of27%–48%. Copyright Kluwer Academic Publishers 2004

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File URL: http://hdl.handle.net/10.1023/B:EARE.0000035427.22165.3b
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Article provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.

Volume (Year): 29 (2004)
Issue (Month): 1 (September)
Pages: 21-37

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Handle: RePEc:kap:enreec:v:29:y:2004:i:1:p:21-37
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  1. List, John A. & Gallet, Craig A., 1999. "The environmental Kuznets curve: does one size fit all?," Ecological Economics, Elsevier, vol. 31(3), pages 409-423, December.
  2. John A. List, 1999. "Have Air Pollutant Emissions Converged Among U.S. Regions? Evidence from Unit Root Tests," Southern Economic Journal, Southern Economic Association, vol. 66(1), pages 144-155, July.
  3. Labson B. Stephen & Crompton Paul L., 1993. "Common Trends in Economic Activity and Metals Demand: Cointegration and the Intensity of Use Debate," Journal of Environmental Economics and Management, Elsevier, vol. 25(2), pages 147-161, September.
  4. repec:cup:etheor:v:10:y:1994:i:5:p:917-36 is not listed on IDEAS
  5. Park, Joon Y. & Sung, Jaewhan, 1994. "Testing for Unit Roots in Models with Structural Change," Econometric Theory, Cambridge University Press, vol. 10(05), pages 917-936, December.
  6. Ahrens, W. Ashley & Sharma, Vijaya R., 1997. "Trends in Natural Resource Commodity Prices: Deterministic or Stochastic?," Journal of Environmental Economics and Management, Elsevier, vol. 33(1), pages 59-74, May.
  7. Amsler, Christine & Lee, Junsoo, 1995. "An LM Test for a Unit Root in the Presence of a Structural Change," Econometric Theory, Cambridge University Press, vol. 11(02), pages 359-368, February.
  8. Andrews, Donald W K, 1991. "Heteroskedasticity and Autocorrelation Consistent Covariance Matrix Estimation," Econometrica, Econometric Society, vol. 59(3), pages 817-58, May.
  9. Francis X. Diebold & Lutz Kilian, 1999. "Unit Root Tests Are Useful for Selecting Forecasting Models," NBER Working Papers 6928, National Bureau of Economic Research, Inc.
  10. Grossman, Gene M & Krueger, Alan B, 1995. "Economic Growth and the Environment," The Quarterly Journal of Economics, MIT Press, vol. 110(2), pages 353-77, May.
  11. repec:cup:etheor:v:11:y:1995:i:2:p:359-68 is not listed on IDEAS
  12. Labson B. Stephen, 1995. "Stochastic Trends and Structural Breaks in the Intensity of Metals Use," Journal of Environmental Economics and Management, Elsevier, vol. 29(3), pages S34-S42, November.
  13. Nelson, Charles R. & Plosser, Charles I., 1982. "Trends and random walks in macroeconmic time series : Some evidence and implications," Journal of Monetary Economics, Elsevier, vol. 10(2), pages 139-162.
  14. Adolf Mkenda & Henk Folmer, 2001. "The Maximum Sustainable Yield of Artisanal Fishery in Zanzibar: A Cointegration Approach," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 19(4), pages 311-328, August.
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