GTAP Resources: Resource Display
| GTAP Resource #4970 |
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"Modeling the Economy-Wide Costs of Non-Price Based Environmental Policies in an Applied General Equilibrium Framework" by Garbaccio, Richard, Alex Marten, Ann Wolverton and et al. Abstract The social cost of air regulations has been measured using many different types of models. In this paper, we explore the use of computable general equilibrium (CGE) models to measure the social cost of policies that seek to reduce pollution emissions and improve air quality. A key focus of this exercise is providing insight into the additional information that may (or may not) be gleaned from a general equilibrium approach in practice, relative to partial equilibrium and engineering approaches, given the complex and non-price nature of most air regulations. Specifically, we explore the sensitivity of social cost estimates to key information limitations, regulatory design variations, and CGE model attributes using a detailed CGE model of the United States. Air regulations are often complex and vary widely with respect to the types of pollution addressed, sectoral and geographic scope, regulatory design, stringency, types of benefits and costs, and other dimensions. A number of these regulatory attributes are likely to influence the estimates of social cost. We provide qualitative and quantitative assessments of how these additional complexities can be introduced into a CGE model and in which cases they may impact ex ante social cost estimates to the point where practitioners should pay particular attention in applied analyses. |
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- Domestic policy analysis - North America |
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Public Access  modeling economy wide costs of regs_041615 (134.2 KB) Replicated: 0 time(s)Restricted Access No documents have been attached. Special Instructions No instructions have been specified. |
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Last Modified: 9/15/2023 2:05:45 PM
