What Do Emissions Markets Deliver and to Whom? Evidence from Southern California's Nox Trading Program.
- UNCG Author/Contributor (non-UNCG co-authors, if there are any, appear on document)
- Stephen P. Holland, Associate Professor (Creator)
- Institution
- The University of North Carolina at Greensboro (UNCG )
- Web Site: http://library.uncg.edu/
Abstract: An advantage of cap-and-trade programs over more prescriptive
environmental regulation is that compliance flexibility and cost
effectiveness can make more stringent emissions reductions politically
feasible. However, when markets (versus regulators) determine
where emissions occur, it becomes more difficult to assure that mandated
emissions reductions are equitably achieved. We investigate
these issues in the context of Southern California’s RECLAIM program
by matching facilities in RECLAIM with similar California
facilities also in nonattainment areas. Our results indicate that average
emissions fell 20 percent at RECLAIM facilities relative to our
counterfactual. Furthermore, observed changes in emissions do not
vary significantly with neighborhood demographic characteristics.
What Do Emissions Markets Deliver and to Whom? Evidence from Southern California's Nox Trading Program.
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Additional Information
- Publication
- Language: English
- Date: 2012
- Keywords
- emissions markets, emissions, cap and trade emissions programs, emissions reduction, environmental regulation, southern california, economics