Economic Analysis of Environmental Politics
, by University of Toronto Press
- ISBN: 9781442610705 | 1442610700
- Cover: Paperback
- Copyright: 12/1/2010
Economic Analysis of Environmental Policy, a textbook for advanced undergraduate and graduate courses, provides a rigorous and thorough explanation of modern environmental economics, applying this exposition to contemporary issues and policy analysis.
| List of Figures and Tables | p. xi |
| Preface: Why This Book? | p. xv |
| Issues, Instruments, Institutions, and Ideas | p. 3 |
| Environmental Concerns: A Historical Survey | p. 3 |
| The Brundtland Report | p. 5 |
| Warnings in the 1970s | p. 6 |
| The Limits of the Earth, circa 1953 | p. 7 |
| The Imperative Duty of 1912 | p. 8 |
| Our Numbers are Burdensome to the World | p. 10 |
| Environmental Issues | p. 12 |
| Conventional Air Pollution | p. 12 |
| Global Environmental Problems: Ozone Depletion | p. 14 |
| Global Environmental Problems: Global Warming | p. 17 |
| Air Pollution and Economic Growth over Time | p. 24 |
| Water Pollution | p. 30 |
| Policy Instruments: A Brief Introduction | p. 31 |
| Standards | p. 31 |
| Emission Taxes | p. 34 |
| Emission Permits | p. 34 |
| Liability Law | p. 34 |
| Institutions and Rule-Makers | p. 35 |
| Federal Governments in the United States and Canada | p. 35 |
| State and Provincial Governments | p. 36 |
| Municipalities | p. 36 |
| Courts | p. 36 |
| Growth and the Environment: The Tradeoff over Time | p. 36 |
| Does Growth Theory Predict the EKC?* | p. 39 |
| Review Questions | p. 43 |
| References and Extra Reading | p. 44 |
| Data Source Websites | p. 44 |
| Valuation of the Environment | p. 49 |
| Externalities | p. 49 |
| Some Results from Microeconomics and Welfare Economics | p. 51 |
| Pollution Damages in Utility Terms | p. 56 |
| Non-Market Valuation of Environmental Change | p. 59 |
| Aggregating Environmental Values | p. 63 |
| Discounting Environmental Damages over Time | p. 64 |
| Annuities | p. 64 |
| Discount Rates* | p. 66 |
| Adding Up Benefits across People with Unequal Incomes | p. 68 |
| Uncertainty, Risk, and Risk-Aversion* | p. 71 |
| Non-linearity and Non-commutativity | p. 74 |
| Review Questions | p. 76 |
| References and Extra Reading | p. 77 |
| The Value of Emissions and the Costs of Abatement | p. 79 |
| The Optimal Output-Abatement Choice | p. 79 |
| The Marginal Abatement Cost Function | p. 85 |
| Review Questions | p. 88 |
| Optimal Emissions: The Partial Equilibrium Case | p. 91 |
| The Optimal Emissions Level | p. 91 |
| Static Short-Run Efficiency | p. 95 |
| Static Long-Run Efficiency* | p. 101 |
| The Balanced Budget Requirement | p. 105 |
| Non-Point Source Pollution* | p. 106 |
| Dynamic Efficiency and Technology Adoption Decisions | p. 110 |
| A Note about Terminology: 'Pollution' Taxes versus 'Pigovian' Taxes | p. 112 |
| Review Questions | p. 114 |
| References and Extra Reading | p. 119 |
| Information, Uncertainty, and Instrument Choice | p. 121 |
| Incentives to Report Truthfully | p. 121 |
| Incentives to Under-report under an Emissions Tax | p. 122 |
| Many Small Firms | p. 124 |
| Prices versus Quantities | p. 125 |
| Equivalence under Certainty | p. 125 |
| Policy Choice When Damages are Uncertain | p. 126 |
| Policy Choice When the Marginal Abatement Cost is Uncertain | p. 127 |
| Instrument Choice under Uncertainty | p. 128 |
| Review Questions | p. 131 |
| References and Extra Reading | p. 132 |
| Pollution Standards, Monitoring, and Enforcement | p. 133 |
| Standards versus Standards | p. 133 |
| Level Standard versus Emissions Intensity Rule | p. 136 |
| Concentration Standards with Many Firms* | p. 139 |
| Monitoring and Enforcement | p. 141 |
| Standard Enforcement Model | p. 142 |
| Regulation with Random Pollution and Uncertain Inspections | p. 144 |
| Review Questions | p. 150 |
| References and Extra Reading | p. 151 |
| Tradable Permits and Quotas | p. 153 |
| The Competitive Case | p. 153 |
| The U.S. Sulfur Dioxide Market | p. 155 |
| Market Power and Tradable Permits* | p. 160 |
| Auction versus Quotas | p. 162 |
| Review Questions | p. 165 |
| References and Extra Reading | p. 167 |
| Emission Taxes and the General Equilibrium Model of Emission Pricing | p. 169 |
| Review of Basic Concepts | p. 169 |
| Deadweight Loss | p. 171 |
| Revenue Recycling and Tax Interaction Effects | p. 172 |
| The Sandmo Model of Optimal Taxation in the Presence of Externalities* | p. 179 |
| First-Best Allocation | p. 180 |
| Decentralized Competitive Outcome | p. 181 |
| Optimal Second-Best Tax System | p. 183 |
| Pollution Taxes and Deadweight Loss | p. 188 |
| Subsidies | p. 189 |
| Review Questions | p. 191 |
| References and Extra Reading | p. 192 |
| Bargaining and Tort Law as Solutions to Externalities | p. 193 |
| Introduction | p. 193 |
| Multiple Victims and Joint Tortfeasors | p. 197 |
| Multiple Victims | p. 197 |
| Joint Tortfeasors | p. 197 |
| Contests over Damages* | p. 204 |
| Victim Overexposure | p. 208 |
| Review Questions | p. 210 |
| References and Extra Reading | p. 212 |
| International Trade and Pollution | p. 214 |
| Pollution Havens and Environmental Dumping | p. 214 |
| Trade Flows and Pollution | p. 215 |
| Foreign Direct Investment and Pollution | p. 217 |
| Trade Liberalization and the Environment | p. 219 |
| Model Set-up* | p. 219 |
| Welfare Analysis* | p. 222 |
| Environmental Effects of Trade Liberalization: Pollution Haven Hypothesis versus Factor Endowment Hypothesis | p. 224 |
| Review Questions | p. 227 |
| References and Extra Reading | p. 227 |
| Sustainability and Optimal Growth | p. 229 |
| Introduction | p. 229 |
| Net National Product | p. 231 |
| Measuring Sustainability | p. 236 |
| Green Net National Product and Net Savings | p. 236 |
| Hartwick's Rule on Sustainable Consumption Paths* | p. 239 |
| Review Questions | p. 242 |
| References and Extra Reading | p. 242 |
| Policy Debates, Practice Exam, and Supplementary Questions | p. 244 |
| Policy Debates | p. 244 |
| Practice Exam Questions | p. 247 |
| Further Study Questions | p. 253 |
| Index | p. 255 |
| Table of Contents provided by Ingram. All Rights Reserved. |
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