Keep calm and carry on emitting: Cap-and-trade rules, local emissions and growth
Onali, E; Mascia, DV
Date: 2023
Article
Journal
Regional Studies
Publisher
Routledge / Regional Studies Association
Abstract
We estimate the impact of the cap-and-trade program (CATP) in California on regional
greenhouse gas emissions and economic growth. Our preferred identification strategies,
based on spatial distance and county-level contiguity, fail to provide evidence of a reduction
in regional emissions or economic growth due to the CATP. Multi-state ...
We estimate the impact of the cap-and-trade program (CATP) in California on regional
greenhouse gas emissions and economic growth. Our preferred identification strategies,
based on spatial distance and county-level contiguity, fail to provide evidence of a reduction
in regional emissions or economic growth due to the CATP. Multi-state organizations do not
transfer emissions to non-Californian facilities, but parent-level concentration in emissions
changes, consistent with an insofar unexplored form of regulatory arbitrage. Overall, our
results highlight the importance of a regional approach when designing climate policies and
evaluating their effects.
Finance and Accounting
Faculty of Environment, Science and Economy
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