| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w28962 |
| 来源ID | Working Paper 28962 |
| Impacts of the Clean Air Act on the Power Sector from 1938-1994: Anticipation and Adaptation | |
| Karen Clay; Akshaya Jha; Joshua A. Lewis; Edson R. Severnini | |
| 发表日期 | 2021-06-28 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | The passage of landmark government regulation is often the culmination of evolving social pressure and incremental policy change. During this process, firms may preemptively adjust behavior in anticipation of impending regulation, making it difficult to quantify the overall economic impact of the legislation. This study leverages a theoretical framework and newly digitized data on the operation of virtually every fossil-fuel power plant in the United States from 1938-1994 to examine the impacts of the 1970 Clean Air Act (CAA) on the power sector. We exploit the extended pre-regulation benchmark to account for anticipatory behavior by electric utilities in the years leading up to the Act's passage, and the long post-regulation period to allow for reallocative effects of the CAA across plant vintages. We find that the CAA led to large and persistent decreases in output and productivity, but only for plants that opened before 1963. This timing aligns with the passage of the original 1963 CAA, which provided the federal government with limited authority to “control” air pollution, but primarily served as a signal of impending federal regulation. We provide empirical and historical evidence of anticipatory responses by utilities in the design and siting of plants that opened after 1963. Finally, we show that the aggregate productivity losses of the CAA borne by the power sector were substantially mitigated by the reallocation of output away from older less productive power plants. |
| 主题 | Other ; Law and Economics ; History ; Other History ; Environmental and Resource Economics ; Energy ; Environment |
| URL | https://www.nber.org/papers/w28962 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/586636 |
| 推荐引用方式 GB/T 7714 | Karen Clay,Akshaya Jha,Joshua A. Lewis,et al. Impacts of the Clean Air Act on the Power Sector from 1938-1994: Anticipation and Adaptation. 2021. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w28962.pdf（1486KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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