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Emission trading in theory and practice: an analysis of RECLAIM in Southern California

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  • O Fromm
  • B Hansjürgens

Abstract

After the national Acid Rain Program, Southern California's tradeable permit system RECLAIM is the second comprehensive attempt in US environmental policy to create a workable system of tradeable permits. In this paper analyses of the most important regulations, of the environmental, legal, and economic background, and of the first results of this program are provided. The focus is on the conditions under which this instrument of environmental policy can be effective in practice.

Suggested Citation

  • O Fromm & B Hansjürgens, 1996. "Emission trading in theory and practice: an analysis of RECLAIM in Southern California," Environment and Planning C: Government and Policy, Pion Ltd, London, vol. 14(3), pages 367-384, June.
  • Handle: RePEc:pio:envirc:v:14:y:1996:i:3:p:367-384
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    Cited by:

    1. Simon Quemin & Christian de Perthuis, 2017. "Transitional restricted linkage between Emissions Trading Schemes," Working Papers 1701, Chaire Economie du climat.
    2. Lehmann, Paul, 2008. "Using a Policy Mix for Pollution Control – A Review of Economic Literature," MPRA Paper 21354, University Library of Munich, Germany.
    3. Park, Hojeong, 2012. "Real option analysis for effects of emission permit banking on investment under abatement cost uncertainty," Economic Modelling, Elsevier, vol. 29(4), pages 1314-1321.
    4. Brockmann, Karl Ludwig & Koschel, Henrike & Schmidt, Tobias F. N., 1998. "Tradable SO-2-permits in the European Union: a practicable scheme for public utilities," ZEW Discussion Papers 98-15, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    5. 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.
    6. Walton, William, 1997. "The potential scope for the application of pollution permits to reducing car ownership in the UK : Some preliminary thoughts," Transport Policy, Elsevier, vol. 4(2), pages 115-122, April.
    7. Pang, Rui-zhi & Deng, Zhong-qi & Chiu, Yung-ho, 2015. "Pareto improvement through a reallocation of carbon emission quotas," Renewable and Sustainable Energy Reviews, Elsevier, vol. 50(C), pages 419-430.

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