Air Quality under State-Level Limits or Regional Trading to Regulate CO_2 from Existing Power Plants

摘要

Allowing trading should provide net economic welfare benefits. The effect of CO_2 -related trading on multiple co-emitted pollutants is complex, but the air quality effect should be less pronounced than the corresponding economic gains. Our work complements previous studies by including indirect effects on non-electricity sector emissions, and by directly exploring the effect of three levels of trading: state, regional, and national.