We evaluate the performance of an environmental market in a less developed country on the basis of the experiences of the particulate matter control program of Santiago, Chile. We find that grandfathering the permits has created economic incentives for incumbent sources to more readily declare...

Despite the increasing interest in the use of emissions trading for pollution control, empirical evidence reduces to a few experiences in the US. This paper studies the “"emission-offsets trading program”" established since 1992 to control particulate in Santiago-Chile. While the program is...

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...

During the last two decades, the Chilean banking industry has experienced a high concentration due to several mergers between its institutions. Among the reasons ar- gued for these consolidations, a potential for substantial gains in e¢ ciency is claimed. Recent studies suggest that the Chilean...

Heavy outdoor pollution is found in developing country cities such as Jakarta, Katowice, Mexico City, and Santiago. But most epidemiological studies of dose-response relationships between particulate air pollution (PM10) and premature deaths are from Western industrial nations. This study of...

The authors estimate dose-response functions for respiratory disease among children based on data from public clinics in Santiago. They find that respiratory disease among Santiago s children is significantly affected by air pollution, measured as PM10 (small dust particles). The effect, for...