Chile ha sido precursor en la utilización de programas de compensación de emisiones con el objetivo de compatibilizar el crecimiento económico con la protección medioambiental. En este trabajo se analiza la aplicación de programas de transacción de emisiones del área metropolitana de...

The ambient permit system proposed in the literature for cost-effective pollution reduction is difficult to implement and may result in lower net benefits than using another instrument. The article develops a model for comparing the environmental net benefits of three policy instruments for...

We evaluate the performance of an environmental market in a less developed country based on the experience from Santiago-Chile's particulate matter control program. We find that grandfathering the permits has created economic incentives for incumbent sources to more readily declare their...