Markets for Clean Air: The U.S. Acid Rain Program
1 June 2000
By Dr. Elizabeth Bailey with Dr. Paul Joskow, Dr. Denny Ellerman, Dr. J.P. Montero, and Dean of the MIT Sloan School of Management Dr. Richard Schmalensee
In this book from Cambridge University Press, NERA Vice President Dr. Elizabeth Bailey, along with Dr. Paul Joskow, Dr. Denny Ellerman, Dr. J.P. Montero, and Dean of the MIT Sloan School of Management Dr. Richard Schmalensee, evaluates the public policy experiment with emissions trading initiated by Title IV of the 1990 Clean Air Act Amendments, the U.S. Acid Rain Program. The book analyzes the behavior and performance of the market for emissions permits and quantifies emission reductions, compliance costs, and cost savings associated with the program. The authors also review the historical development of the trading program, which is the world's first large-scale use of a tradable emission permit system for achieving environmental goals.
