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Emission Saved is an Emission Earned: An Empirical Study of Emission Banking (An)

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  • Kling, Catherine L.
  • Rubin, Jonathan

Abstract

This paper presents results of an empirical study of emission banking for light-duty vehicle manufacturers. An intertemporal model of manufacturers' choices is combined with econometrically estimated abatement cost functions to simulate the cost savings and emission effects of an averaging, trading, and banking marketable permit system relative to command-and-control regulations. While the cost savings of such a system are estimated to be modest, the intertemporal emission effects may be sizable. The sensitivity of the results to discount rates, abatement and cost functions, and model specifications is also explored

Suggested Citation

  • Kling, Catherine L. & Rubin, Jonathan, 1993. "Emission Saved is an Emission Earned: An Empirical Study of Emission Banking (An)," Staff General Research Papers Archive 1579, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genres:1579
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    Cited by:

    1. Feng, Hongli & Zhao, Jinhua, 2006. "Alternative intertemporal permit trading regimes with stochastic abatement costs," Resource and Energy Economics, Elsevier, vol. 28(1), pages 24-40, January.
    2. Schwabe, Kurt A., 1999. "The effects of separability on incentive-based instrument performance," Economics Letters, Elsevier, vol. 63(3), pages 377-380, June.
    3. Daniel Phaneuf & Till Requate, 2002. "Incentives for Investment in Advanced Pollution Abatement Technology in Emission Permit Markets with Banking," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 22(3), pages 369-390, July.
    4. Kling, Catherine & Rubin, Jonathan, 1997. "Bankable permits for the control of environmental pollution," Journal of Public Economics, Elsevier, vol. 64(1), pages 101-115, April.
    5. Juan-Pablo Montero, 2002. "The Temporal Efficiency of SO2 Emissions Trading," Documentos de Trabajo 225, Instituto de Economia. Pontificia Universidad Católica de Chile..
    6. Solomon, Barry D., 1999. "New directions in emissions trading: the potential contribution of new institutional economics," Ecological Economics, Elsevier, vol. 30(3), pages 371-387, September.
    7. Richard Newell & William Pizer & Jiangfeng Zhang, 2005. "Managing Permit Markets to Stabilize Prices," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 31(2), pages 133-157, June.
    8. Li, Shoude, 2014. "Dynamic optimal control of pollution abatement under emissions permit banking," Economic Modelling, Elsevier, vol. 36(C), pages 363-369.
    9. Considine, Timothy J. & Larson, Donald F., 2006. "The environment as a factor of production," Journal of Environmental Economics and Management, Elsevier, vol. 52(3), pages 645-662, November.
    10. Schwabe, Kurt A., 2000. "Modeling state-level water quality management: the case of the Neuse River Basin," Resource and Energy Economics, Elsevier, vol. 22(1), pages 37-62, January.
    11. Tietenberg, Tom, 1998. "Ethical influences on the evolution of the US tradable permit approach to air pollution control," Ecological Economics, Elsevier, vol. 24(2-3), pages 241-257, February.
    12. Robert W. Hahn, 1995. "Choosing among fuels and technologies for cleaning up the air," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 14(4), pages 532-554.
    13. Denny Ellerman & Vanessa Valero & Aleksandar Zaklan, 2015. "An Analysis of Allowance Banking in the EU ETS," RSCAS Working Papers 2015/29, European University Institute.
    14. Rubin, Jonathan & Leiby, Paul N. & Greene, David L., 2009. "Tradable fuel economy credits: Competition and oligopoly," Journal of Environmental Economics and Management, Elsevier, vol. 58(3), pages 315-328, November.
    15. Li, Shoude, 2013. "Emission permit banking, pollution abatement and production–inventory control of the firm," International Journal of Production Economics, Elsevier, vol. 146(2), pages 679-685.
    16. Charles Raux, 2002. "The Use of Transferable Permits in the Transport Sector," Post-Print halshs-00080454, HAL.
    17. Schennach, Susanne M., 2000. "The Economics of Pollution Permit Banking in the Context of Title IV of the 1990 Clean Air Act Amendments," Journal of Environmental Economics and Management, Elsevier, vol. 40(3), pages 189-210, November.
    18. Speir, Cameron & Stephenson, Kurt & Shabman, Leonard A., 2000. "Command-And-Control Or Effluent Allowance Markets: Roles Of Economic Analysis," 2000 Annual meeting, July 30-August 2, Tampa, FL 21869, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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