Dynamic aspects of air quality control costs
Date of Original Version
Abstract or Description
This paper investigates aggregate cost differentials due to implementing environmental regulations over alternative time periods. These differentials may be related t o premature obsolescence of the capital stock, technical advances in abatement, and perhaps other factors. Our estimates, which are subject to a number of qualifications, indicate that these differentials may be substantial. We conduct our investigation within a simple but complete general equilibrium model and contrast our approach with more conventional techniques of forecasting and policy assessment. Our model consists of a description of preferences, technology, and the interaction of economic agents which generates forecasts of economic variables for alternative scenario,.
Journal of Environmental Economics and Management , 4, 4, 313-334.