作者
Olivier Deschenes, Michael Greenstone, Joseph S Shapiro
发表日期
2017/10/1
期刊
American Economic Review
卷号
107
期号
10
页码范围
2958-2989
出版商
American Economic Association
简介
The demand for air quality depends on health impacts and defensive investments, but little research assesses the empirical importance of defenses. A rich quasi-experiment suggests that the Nitrogen Oxides (NOx) Budget Program (NBP), a cap-and-trade market, decreased NOx emissions, ambient ozone concentrations, pharmaceutical expenditures, and mortality rates. The annual reductions in pharmaceutical purchases, a key defensive investment, and mortality are valued at about $800 million and $1.3 billion, respectively, suggesting that defenses are over one-third of willingness-to-pay for reductions in NOx emissions. Further, estimates indicate that the NBP's benefits easily exceed its costs and that NOx reductions have substantial benefits. (JEL I12, Q51, Q53, Q58)
学术搜索中的文章
O Deschenes, M Greenstone, JS Shapiro - American Economic Review, 2017
M Greenstone, O Deschenes, JS Shapiro - Social science research network, Social Science …, 2012