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A market-based environmental policy experiment in Chile

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dc.contributor.author Montero, Juan-Pablo en_US
dc.contributor.author Katz, Ricardo Santiago en_US
dc.contributor.author Sánchez, José Miguel en_US
dc.contributor.other Massachusetts Institute of Technology. Center for Energy and Environmental Policy Research. en_US
dc.date.accessioned 2009-04-03T17:04:30Z
dc.date.available 2009-04-03T17:04:30Z
dc.date.issued 2000 en_US
dc.identifier 2000-005 en_US
dc.identifier.uri http://hdl.handle.net/1721.1/44969
dc.description.abstract Despite growing interest in the use of emissions trading for pollution control, empirical evidence for this regulatory instrument has been confined to a few experiences in the United States. This paper broadens the empirical base by examining the "Emission-Offsets Trading Program" that has been in place since 1992 to control airborne particulate emissions in Santiago, Chile. While the program is doing well from an environmental perspective, due in part to the price-based introduction of natural gas, the market is performing poorly because of high transaction costs, uncertainty, and poor enforcement. However, the scarcity rents created by allocating grandfathered emission rights to incumbents have proved to be a very effective tool for completing the emissions inventory. en_US
dc.description.sponsorship Supported by the MIT Center for Energy and Environmental Policy Research. en_US
dc.format.extent 28 p en_US
dc.publisher MIT Center for Energy and Environmental Policy Research en_US
dc.relation.ispartofseries MIT-CEEPR (Series) ; 00-005WP. en_US
dc.title A market-based environmental policy experiment in Chile en_US
dc.type Working Paper en_US
dc.identifier.oclc 52316162 en_US


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