For years economists have urged policymakers to use market-based approaches such as cap-and-trade programs or emission taxes to control pollution. The SO2 allowance market created by Title IV of the 1990 U.S. Clean Air Act Amendments (CAAA) presents the first real test of the wisdom of...

When environmental damages from emissions are spatially nonuniform, permit trading has been modeled most often as a “pollution offset program” in which emission permits are traded between agents, subject to constraints on ambient air quality. To date the institution envisioned to implement...

For years economists have urged policymakers to use market-based approaches such as cap-and-trade programs or emission taxes to control pollution. The SO2 allowance market created by Title IV of the 1990 U.S. Clean Air Act Amendments (CAAA) presents the first real test of the wisdom of...

In Belgium recent national and community legislation regulates emission levels of "acid pollutants" (SO2, NOx) and apply to large combustion facilities whose pollutants are transported over large distances. Complying with these legislations requires costly emission control equipment. In order to...

The universal theme of deregulation of the electricity industry is the dismantling of the exclusive franchise, opening up some segments of the industry to competition. Technological changes in generation have helped eliminate the perception that generation is a natural monopoly, but this change...

The 1990 U.S. Clean Air Act Amendments (CAAA) instituted a national program in tradable sulfur dioxide (SO2) emission permits, referred to as "emission allowances," in the U.S. electricity sector. This paper provides a survey and assessment of the SO2 allowance trading program with a focus on...

In 1990, the U.S. Congress passed legislation that amended the Clean Air Act to create a new program to mitigate the effects of acid deposition in the U.S. through emission reductions of sulfur dioxide (SO<Subscript>2</Subscript>) and nitrogen oxides (NO<Subscript>x</Subscript>) at electric utility plants across the country. The SO<Subscript>2</Subscript>...</subscript></subscript></subscript>

The purpose of the paper is to analyze the possibility of introducing a system of transferable discharge permits (TDP) to develop the joint implementation procedure conceived in the Second Sulfur Protocol. The analysis is performed considering not only the European countries that have agreed...