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A Macroeconomic Perspective on Evaluating Environmental Regulations

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  • Richard Rogerson

Abstract

This article examines how dynamic general equilibrium models and methods that are commonly used to evaluate macroeconomic policies can also be useful for evaluating the aggregate consequences of environmental regulations. I describe two macroeconomic models of interest that differ in the extent to which they incorporate heterogeneity and microeconomic detail. I illustrate how standard methods from macroeconomics can be applied in both models by considering calculations for a hypothetical environmental regulation.

Suggested Citation

  • Richard Rogerson, 2015. "A Macroeconomic Perspective on Evaluating Environmental Regulations," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 9(2), pages 219-238.
    • Handle: RePEc:oup:renvpo:v:9:y:2015:i:2:p:219-238.
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    File URL: http://hdl.handle.net/10.1093/reep/rev005
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    References listed on IDEAS

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    1. Jordi Galí, 2008. "Introduction to Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework," Introductory Chapters, in: Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework, Princeton University Press.
    2. Timothy J. Bartik, 2015. "The Social Value of Job Loss and Its Effect on the Costs of U.S. Environmental Regulations," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 9(2), pages 179-197.
    3. Nicolai V. Kuminoff & Todd Schoellman & Christopher Timmins, 2015. "Environmental Regulations and the Welfare Effects of Job Layoffs in the United States: A Spatial Approach," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 9(2), pages 198-218.
    4. Martin L. Weitzman, 2012. "GHG Targets as Insurance Against Catastrophic Climate Damages," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 14(2), pages 221-244, March.
    5. Andolfatto, David, 1996. "Business Cycles and Labor-Market Search," American Economic Review, American Economic Association, vol. 86(1), pages 112-132, March.
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    Cited by:

    1. V. Kerry Smith, 2015. "Should Benefit–Cost Methods Take Account of High Unemployment? Symposium Introduction," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 9(2), pages 165-178.
    2. Bieri, David S. & Kuminoff, Nicolai V. & Pope, Jaren C., 2023. "National expenditures on local amenities," Journal of Environmental Economics and Management, Elsevier, vol. 117(C).
    3. Ferris, Ann & Garbaccio, Richard & Marten, Alex & Wolverton, Ann, 2017. "The Impacts of Environmental Regulation on the U.S. Economy," National Center for Environmental Economics-NCEE Working Papers 280936, United States Environmental Protection Agency (EPA).
    4. Nicolai V. Kuminoff & Todd Schoellman & Christopher Timmins, 2015. "Environmental Regulations and the Welfare Effects of Job Layoffs in the United States: A Spatial Approach," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 9(2), pages 198-218.
    5. Dardati, Evangelina & Saygili, Meryem, 2020. "Aggregate impacts of cap-and-trade programs with heterogeneous firms," Energy Economics, Elsevier, vol. 92(C).
    6. Schreiber, Andrew & Evans, David A. & Marten, Alex & Wolverton, Ann & Davis, Wade, 2023. "Evaluating Economy-wide Effects of Power Sector Regulations Using the SAGE Model," National Center for Environmental Economics-NCEE Working Papers 348914, United States Environmental Protection Agency (EPA).
    7. Timothy J. Bartik, 2015. "The Social Value of Job Loss and Its Effect on the Costs of U.S. Environmental Regulations," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 9(2), pages 179-197.

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