The environment as a factor of production

Journal of Environmental Economics and Management

Volumn 52, Issue 3, 2006, Pages 645-662

  Considine, Timothy J ^a   Larson, Donald F ^b  

^a PENNSYLVANIA STATE UNIVERSITY   (United States)

^b WORLD BANK   (United States)

Author keywords

Emissions; Permits; Substitution

Indexed keywords

ACID RAIN; ELECTRIC UTILITIES; ENVIRONMENTAL IMPACT; MATHEMATICAL MODELS; OCCUPATIONAL RISKS; PARTICULATE EMISSIONS; REGULATORY COMPLIANCE; SULFUR DIOXIDE;

ACID RAIN PROGRAM; MARKET RISKS;

AIR POLLUTION;

ACID RAIN; EMPIRICAL ANALYSIS; ENVIRONMENTAL FACTOR; SULFUR DIOXIDE; UNCERTAINTY ANALYSIS;

EID: 33750302877     PISSN: 00950696     EISSN: 10960449     Source Type: Journal    
DOI: 10.1016/j.jeem.2006.07.001     Document Type: Article

References (30)

1. 2 allowance market: effects of PUC regulations. J. Environ. Econ. Manage. 44 (2002) 271-289
2. Ayres R.U., and Kneese A.V. Production, consumption, and externalities. Amer. Econ. Rev. 59 (1969) 282-297
3. Ayers R.U. Resources, Environment and Economics: Applications of the Materials/Energy Balance Principle (1978), Willey-Interscience, New York
4. R.U. Ayres, The minimum complexity of endogenous growth models: the role of physical resource flows and technology, Working paper, INSEAD, Centre for the Management of Environmental Resources, 99/37/EPS, 1999.
5. Baltagi B.H. Econometric Analysis of Panel Data (2002), Wiley, West Sussex, England
6. 2 allowance marketplace, Working paper, New York, Cantor-Fitzgerald Environmental Brokerage Services, 1997.
7. Blackorby C., and Russell R.R. Will the real elasticity of substitution please stand up?. Amer. Econ. Rev. 79 (1989) 882-888
8. Brealey R.A., and Myers S.C. Principles of Corporate Finance (2003), McGraw-Hill Irwin Inc., New York
9. Brown R.S., and Christensen L.R. Estimating elasticities of substitution in a model of partial static equilibrium: an application to US agriculture, 1947-1974. In: Berndt E.R., and Field B.C. (Eds). Modeling and Measuring Natural Resource Substitution (1981), MIT Press, Cambridge, MA 209-229
10. Carlson C., Burtraw D., Cropper M., and Palmer K. Sulfur dioxide control by electric utilities: what are the gains from trade?. J. Polit. Econ. 108 (2000) 1292-1326
11. Caves D.W., and Christensen L.R. Global properties of flexible functional forms. Amer. Econ. Rev. 70 (1980) 422-432
12. Christensen L.R., and Greene W.H. Economies of scale in US electric power generation. J. Polit. Econ. 84 (1976) 655-676
13. 2 permits-policy implications of the low price and trading volume. Energy Policy 24 (1996) 1051-1059
14. Considine T.J., and Larson D.F. Risk premiums on inventory assets: the case of crude oil and natural gas. J. Futures 21 (2001) 109-126
15. Cronshaw M., and Kruse J. Regulated firms in pollution permit markets with banking. J. Regul. Econ. 9 (1996) 179-189
16. D Ellerman A., and Montero J.P. The declining trend in sulfur dioxide emissions: implications for allowance prices. J. Environ. Econ. Manage. 36 (1998) 26-45
17. Ellerman A.D., Joskow P.L., Schmalensee R., Montero J.P., and Bailey E.M. Markets for Clean Air: The US Acid Rain Program (2000), Cambridge University Press, New York
18. Joskow P., and Schmalensee R. The political economy of market-based environmental policy: the US acid rain program. J. Law Econ. 41 (1998) 89-135
19. 2 emission allowance trading program, Resources for the Future, Discussion Paper 35, Washington, 1998.
20. Morrison C. Quasi-fixed inputs in US and Japanese manufacturing: a generalized Leontief restricted cost function approach. Rev. Econ. Statist. 70 (1998) 275-287
21. Moschini G. A model of production with supply management for the Canadian agriculture sector. Amer. J. Agr. Econom. 70 (1988) 318-329
22. Mundlak Y. Production function estimation: reviving the primal. Econometrica 64 (1996) 431-438
23. Pindyck R., and Rotemberg J.J. Dynamic factor demands and the effects of energy price shocks. Amer. Econ. Rev. 73 (1983) 1066-1079
24. Ramey V.A. Inventories as factors of production and economic fluctuations. Amer. Econ. Rev. 79 (1989) 338-354
25. Schennach S. The economics of pollution permit banking in the context of Title IV of the 1990 Clean Air Act Amendments. J. Environ. Econ. Manage. 40 (2000) 189-210
26. Schmalensee R., Joskow P., Ellerman A., Montero J., and Bailey E. An interim evaluation of sulfur dioxide emissions trading. J. Econ. Perspect. 12 (1998) 53-68
27. Shea J. The input-output approach to instrumental selection. J. Bus. Econ. Statist. 11 (1993) 145-155
28. Springer U. Urs, The market for tradable GHG permits under the Kyoto Protocol: A survey of model studies. Energy Econ. 25 (2003) 527-551
29. Tietenberg T.H. Economic instruments for environmental regulation. Oxford Rev. Econ. Policy 6 (1990) 17-33
30. Van den Bergh J.C.J.M. Materials. capital, direct/indirect substitution, and mass balance production functions, Land Econom 75 (1999) 547-561