Di Maria, Corrado; Lange, Ian; Van der Werf, Edwin - 2012 - This version: May 21, 2012
imperfectly implemented policies may lead to detrimental environmental outcomes due to supply side responses. We use the … introduction of the Acid Rain Program in the U.S. as a case study. The theory predicts that owners of coal deposits, expecting … future sales to decline, would supply more of their resource between the announcement of the Acid Rain Program and its …