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Escalation of Scrutiny: The Gains from Dynamic Enforcement of Environmental Regulations / Wesley Blundell, Gautam Gowrisankaran, Ashley Langer.
- Format:
- Book
- Author/Creator:
- Blundell, Wesley.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w24810.
- NBER working paper series no. w24810
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Escalation of Scrutiny
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2018.
- Summary:
- The U.S. Environmental Protection Agency uses a dynamic approach to enforcing air pollution regulations, with repeat offenders subject to high fines and designation as <i>high priority violators</i> (HPV). We estimate the value of dynamic enforcement by developing and estimating a dynamic model of a plant and regulator, where plants decide when to invest in pollution abatement technologies. We use a fixed grid approach to estimate random coefficient specifications. Investment, fines, and HPV designation are costly to most plants. Eliminating dynamic enforcement would raise pollution damages by 164% with constant fines or raise fines by 519% with constant pollution damages.
- Notes:
- Print version record
- July 2018.
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