TY - JOUR
T1 - The determinants of credit allocations in a market-based trading system
T2 - Evidence from the RECLAIM program
AU - Bento, Antonio M.
AU - Henry, Emeric
AU - Lowe, Scott E.
PY - 2013
Y1 - 2013
N2 - This paper examines the determinants of emission credit allocations under the Regional Clean Air Incentives Market (RECLAIM) -a program aimed at reducing nitrogen oxides (NOX) and sulfur oxides (SOX)-in the greater Los Angeles area. Our results suggest that deviations in the allocation of emission credits can be systematically explained by firm-level factors and the location of the facility. Our results also indicate that deviations in the allocation of emission credits may have been made in an attempt to regulate toxics, and that certain industries were protected in the early stages of the program.
AB - This paper examines the determinants of emission credit allocations under the Regional Clean Air Incentives Market (RECLAIM) -a program aimed at reducing nitrogen oxides (NOX) and sulfur oxides (SOX)-in the greater Los Angeles area. Our results suggest that deviations in the allocation of emission credits can be systematically explained by firm-level factors and the location of the facility. Our results also indicate that deviations in the allocation of emission credits may have been made in an attempt to regulate toxics, and that certain industries were protected in the early stages of the program.
KW - Air pollution
KW - Distributional impacts
KW - Market-based permits
KW - NO
KW - Regional Clean Air Incentives Market (RECLAIM)
UR - http://www.scopus.com/inward/record.url?scp=84889561932&partnerID=8YFLogxK
M3 - Article
AN - SCOPUS:84889561932
SN - 0048-749X
VL - 43
SP - 51
EP - 80
JO - Review of Regional Studies
JF - Review of Regional Studies
IS - 1
ER -