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Publicado en: Libro

Markets for Clean Air: The US Acid Rain Program

Juan-Pablo Montero; Denny Ellerman; Paul Joskow; Richard Schmalensee; Elizabeth Bailey.

Cambridge University Press, Cambridge, UK, 2000.

Markets of Clean Air provides a comprehensive, in-depth description and evaluation of the first three year’s experience with the U.S. Acid Rain Program. This environmental control program is the world’s first large-scale use of a tradable emission permit system for achieving environmental goals. The book analyzes the behavior and performance of the market for emissions permits, called allowances in the Acid Rain Program, and quantifies emission reductions, compliance costs, and cost savings associated with the trading program. The book also includes chapters on the historical context in which this pioneering program developed and the political economy of allowance allocations. Finally, the books discusses the program’s successes, its weaknesses, and the lessons learned regarding application of the emissions-trading approach to controlling other types of emissions, including greenhouse gases. The volume is an indispensable addition to the library of all interested in the application of market principles for meeting environmental goals.


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