Tagged with Markets 
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Cap-and-Trade versus the Alternatives for U.S. Climate Policy 1
Posted 1 month, 3 weeks ago -
Still fallacious
The perfect market fallacy 9
Posted 2 months, 1 week ago
A "market" is nothing more than a description of our collective allocation of resources. Economists refer to markets as being efficient only when they meet a specific set of conditions, at which point the benefits that accrue from Adam Smith's invisible hand are realized through the independent actions of profit-seeking actors. But most markets are inefficient--often woefully so.
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Too Good to be True? 0
Posted 2 months, 2 weeks ago -
Pee-Wee Longevity for US PV Panels
Regulatory standards save money 0
Posted 2 months, 3 weeks agoContrary to all that we've been told by the economic pundits for decades, it is the ABSENCE of regulations and regulatory performance standards that costs consumers money, reports Business Week. This is a great case for the contribution of performance standards to overall economic efficiency.
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Cap-and-Trade: A Fly in the Ointment? 0
Posted 3 months, 3 weeks agoCap-and-trade systems, in which emission permits or allowances can be traded among potential polluters, continue today to be at the center of the action around market-based environmental policy instruments.
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Worried about international competition? Another look at the Waxman-Markey cap-and-trade proposal 0
Posted 5 months, 2 weeks agoThe potential impacts of proposed U.S. climate policies on the competitiveness of U.S. industries is a major political issue.
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Goldman Sachs: Oil’s going to $85 by year end 0
Posted 6 months ago
Oil hit $67 a barrel yesterday, driven by the perception the global economy may have hit bottom, among other factors. Goldman Sachs raised its end of 2009 oil price forecast to $85 a barrel from $65.
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Moving beyond vintage-differentiated regulation 2
Posted 7 months, 4 weeks agoA common feature of many environmental policies in the United States is vintage-differentiated regulation (VDR), under which standards for regulated units are fixed in terms of the units’ respective dates of entry, with later vintages facing more stringent regulation. In the most common application, often referred to as “grandfathering,” units produced prior to a specific date are exempted from a new regulation or face less stringent requirements.
As I explain in this post, an economic perspective suggests that VDRs are likely to retard turnover in the capital stock, and thereby to reduce the cost-effectiveness of regulation in the long-term, compared with equivalent undifferentiated regulations.
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