Has Southern California’s Cap-and-Trade Program Delivered on its Promises?
نویسنده
چکیده
Researchers Meredith Fowlie (University of California, Berkeley), Stephen Holland (University of North Carolina, Greensboro) and Erin Mansur (Yale University) take a rigorous and sophisticated approach in creating a “what if” scenario within Southern California’s Regional Clean Air Initiatives Market (RECLAIM) program. In their paper, “What do Emissions Markets Deliver and to Whom? Evidence from Southern California’s NOx Trading Program” (CSEM Working Paper 186), they exploit unique design features of the RECLAIM program to construct credible and transparent estimates of what the emission levels would have been had commandand-control (CAC) regulations applied rather than cap and trade. Although there have been previous efforts to measure the effectiveness of the RECLAIM program, the results have been contradictory and controversial.
منابع مشابه
CSEM WP 186 What Do Emissions Markets Deliver and to Whom? Evidence from Southern California’s NOx Trading Program
A perceived advantage of cap-and-trade programs over more prescriptive environmental regulation is that enhanced compliance flexibility and cost effectiveness can make more stringent emissions reductions politically feasible. However, increased compliance flexibility can also result in an inequitable distribution of pollution. We investigate these issues in the context of Southern California’s ...
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