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The SO2 Allowance-Trading System and the Clean Air Act Amendments of 1990: Reflections on 20 Years of Policy Innovation

In: Economics of Environment, Climate Change, and Wine Selected Papers of Robert N Stavins Volume 3 (2011–2023)

Author

Listed:
  • Gabriel Chan
  • Robert N. Stavins
  • Robert Stowe
  • Richard Sweeney

Abstract

The following sections are included:IntroductionThe Acid Rain ProgramCostEnvironmental EffectivenessMarket Performance and Regulatory ComplexityDistribution of Allowances and Fairness of ImpactTechnological InnovationPolitical Context of the Acid Rain ProgramConclusionAcknowledgementsReferences

Suggested Citation

  • Gabriel Chan & Robert N. Stavins & Robert Stowe & Richard Sweeney, 2025. "The SO2 Allowance-Trading System and the Clean Air Act Amendments of 1990: Reflections on 20 Years of Policy Innovation," World Scientific Book Chapters, in: Economics of Environment, Climate Change, and Wine Selected Papers of Robert N Stavins Volume 3 (2011–2023), chapter 7, pages 165-208, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811292415_0007
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    Cited by:

    1. Kumar, Surender & Managi, Shunsuke & Jain, Rakesh Kumar, 2020. "CO2 mitigation policy for Indian thermal power sector: Potential gains from emission trading," Energy Economics, Elsevier, vol. 86(C).
    2. David Rapson & Erich Muehlegger, 2023. "Global Transportation Decarbonization," Journal of Economic Perspectives, American Economic Association, vol. 37(3), pages 163-188, Summer.
    3. Lawrence H. Goulder, 2013. "Markets for Pollution Allowances: What Are the (New) Lessons?," Journal of Economic Perspectives, American Economic Association, vol. 27(1), pages 87-102, Winter.
    4. Kopits, Elizabeth & McGartland, Al & Morgan, Cynthia & Pasurka, Carl & Shadbegian, Ron & Simon, Nathalie B. & Simpson, David & Wolverton, Ann, 2014. "Retrospective cost analyses of EPA regulations: a case study approach," Journal of Benefit-Cost Analysis, Cambridge University Press, vol. 5(2), pages 173-193, June.
    5. Jaime de Melo, 2015. "Trade in a ‘Green Growth’ Development Strategy: Issues and Challenges," World Scientific Book Chapters, in: Developing Countries in the World Economy, chapter 22, pages 553-580, World Scientific Publishing Co. Pte. Ltd..
    6. Wang, Ke & Wei, Yi-Ming & Huang, Zhimin, 2016. "Potential gains from carbon emissions trading in China: A DEA based estimation on abatement cost savings," Omega, Elsevier, vol. 63(C), pages 48-59.
    7. Richard Schmalensee & Robert N. Stavins, 2025. "Policy Evolution under the Clean Air Act," World Scientific Book Chapters, in: Economics of Environment, Climate Change, and Wine Selected Papers of Robert N Stavins Volume 3 (2011–2023), chapter 10, pages 267-298, World Scientific Publishing Co. Pte. Ltd..
    8. Ann Ferris & Ronald J. Shadbegian & Ann Wolverton, 2014. "The Effect of Environmental Regulation on Employment: An Examination of the 1990 Clean Air Act Amendments and its Impact on the Electric Power Sector," NCEE Working Paper Series 201403, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Feb 2014.
    9. Ann E. Ferris & Ronald J. Shadbegian & Ann Wolverton, 2014. "The Effect of Environmental Regulation on Power Sector Employment: Phase I of the Title IV SO2 Trading Program," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 1(4), pages 521-553.
    10. Richard Schmalensee & Robert N. Stavins, 2025. "The SO2 Allowance Trading System: The Ironic History of a Grand Policy Experiment," World Scientific Book Chapters, in: Economics of Environment, Climate Change, and Wine Selected Papers of Robert N Stavins Volume 3 (2011–2023), chapter 8, pages 209-233, World Scientific Publishing Co. Pte. Ltd..
    11. Daniel Leppert, 2023. "“No fences make bad neighbors” but markets make better ones: cap-and-trade reduces cross-border SO2 in a natural experiment," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 25(3), pages 407-433, July.
    12. Nelson, Erik J. & Withey, John C. & Pennington, Derric & Lawler, Joshua J., 2017. "Identifying the impacts of critical habitat designation on land cover change," Resource and Energy Economics, Elsevier, vol. 47(C), pages 89-125.
    13. Joseph G. Schiavo & Robert Mendelsohn, 2019. "The Effect Of Domestic Air Pollution Mitigation And Fracking On Retirements Of Coal Power Plants," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 10(02), pages 1-21, May.
    14. Janet Currie & Reed Walker, 2019. "What Do Economists Have to Say about the Clean Air Act 50 Years after the Establishment of the Environmental Protection Agency?," Journal of Economic Perspectives, American Economic Association, vol. 33(4), pages 3-26, Fall.
    15. MacGregor, James, 2017. "Determining an optimal strategy for energy investment in Kazakhstan," Energy Policy, Elsevier, vol. 107(C), pages 210-224.
    16. Claudia Hitaj & Andrew Stocking, 2014. "Market Efficiency and the U.S. Market for Sulfur Dioxide Allowances: Working Paper 2014-01," Working Papers 45044, Congressional Budget Office.
    17. Michael Hübler & Frank Pothen, 2021. "Can smart policies solve the sand mining problem?," PLOS ONE, Public Library of Science, vol. 16(4), pages 1-15, April.
    18. Lawrence H. Goulder & Andrew R. Schein, 2013. "Carbon Taxes Versus Cap And Trade: A Critical Review," Climate Change Economics (CCE), World Scientific Publishing Co. Pte. Ltd., vol. 4(03), pages 1-28.
    19. Ferris, Ann & Shadbegian, Ron & Wolverton, Ann, 2014. "The Effect of Environmental Regulation on Employment: An Examination of the 1990 Clean Air Act Amendments and its Impact on the Electric Power Sector," National Center for Environmental Economics-NCEE Working Papers 280919, United States Environmental Protection Agency (EPA).
    20. Lawrence H. Goulder & Andrew Schein, 2013. "Carbon Taxes vs. Cap and Trade: A Critical Review," NBER Working Papers 19338, National Bureau of Economic Research, Inc.
    21. Tengda Lu & Xieer Dai & Jun Chen & Ming Dai, 2018. "Pricing Industrial Discharge Quota (IDQ): A Model Reflecting Opportunity Cost of Performing Ecological Responsibility," Sustainability, MDPI, vol. 10(6), pages 1-20, June.

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    JEL classification:

    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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