Search
Now showing items 1-10 of 55
Defensive Investments and the Demand for Air Quality: Evidence from the NOx Budget Program and Ozone Reductions
(MIT CEEPR, 2012-07)
Willingness to pay for air quality is a function of health and the costly defensive investments that contribute to health, but there is little research assessing the empirical importance of defensive investments. The setting ...
Risk and Return in Environmental Economics
(MIT CEEPR, 2012-07)
I examine the risk/return tradeoff for environmental investments, and its implications for policy choice. Consider a policy to reduce carbon emissions. To what extent does the value of such a policy depend on the expected ...
Hit or Miss: Regulating Derivative Markets to Reduce Hedging Costs at Non-Financial Companies
(MIT CEEPR, 2012-01)
Derivative markets are an important tool enabling non‐financial companies to reduce their risk and manage their financing. Effective regulation of these markets can lower companies hedging costs and help improve productivity. ...
Do Housing Prices Reflect Environmental Health Risks? Evidence from More than 1600 Toxic Plant Openings and Closings
(MIT CEEPR, 2012-01)
A ubiquitous and largely unquestioned assumption in studies of housing markets is that there is perfect information about local amenities. This paper measures the housing market and health impacts of 1,600 openings and ...
Gasoline Prices, Fuel Economy, and the Energy Paradox
(MIT Center for Energy and Environmental Research Policy, 2010-03)
It is often asserted that consumers purchasing automobiles or other goods and services underweight the costs of gasoline or other "add-ons." We test this hypothesis in the US automobile market by examining the effects of ...
Speculation without Oil Stockpiling as a Signature: A Dynamic Perspective
(MIT Center for Energy and Environmental Research Policy, 2010-04)
According to the standard analysis of commodity prices, stockpiling is a necessary signature of speculation. This paper develops an approach suggesting that speculation may temporarily push crude oil prices above the level ...
Capacity Factor Risk At Nuclear Power Plants
(MIT Center for Energy and Environmental Policy Research, 2010-11)
We develop a model of the dynamic structure of capacity factor risk. It incorporates the risk that the capacity factor may vary widely from year-to-year, and also the risk that the reactor may be permanently shutdown prior ...
Using Vehicle Taxes to Reduce Carbon Dioxide Emissions Rates of New Passenger Vehicles: Evidence from France, Germany, and Sweden
(MIT CEEPR, 2012-07)
France, Germany, and Sweden link vehicle taxes to the carbon dioxide (CO2) emissions rates of passenger vehicles. Based on new vehicle registration data from 2005–2010, a vehicle’s tax is negatively correlated with its ...
Ethanol Production and Gasoline Prices: A Spurious Correlation
(MIT CEEPR, 2012-07)
Ethanol made from corn comprises 10% of US gasoline, up from 3% in 2003. This
dramatic increase was spurred by recent policy initiatives such as the Renewable Fuel
Standard and state-level blend mandates, and supported ...
The SO2 Allowance Trading System: The Ironic History of a Grand Policy Experiment
(MIT CEEPR, 2012-08)
Two decades have passed Two decades have passed since the Clean Air Act Amendments of 1990 launched a grand experiment in market-based environmental policy: the SO2 cap-and-trade system. That system performed well but ...