The purpose of this paper is to quantify the economic impact of the Clean Air Act Amendments of 1990. The long-run cost of environmental regulations enacted prior to 1990 amounts to 2.59% of the U.S. national product. The new legislation will reduce the national product by a further 0.6% when the impact is complete. Electric utilities and primary metals industries will be especially hard hit by this legislation.
ArmingtonP.S. (1969). “The Geographic Pattern of Trade and the Effects of Price Changes,” IMF Staff papers, Vol. 16, No. 2, July, pp. 176-199.
2.
BergmanL. (1985). “Extensions and Applications of the MSG-model: A Brief Survey,” in F. Forsund, M. Hoel, and S. Longva, eds., Production, Multi-Sectoral Growth and Planning, Amsterdam, North-Holland, pp. 127-161.
3.
BergmanL. (1990). “The Development of Computable General Equilibrium Modelling,” in L. Bergman, D. W. Jorgenson, and E. Zalai, eds., General Equilibrium Modelling and Economic Policy Analysis, Oxford, Basil Blackwell, pp. 3-32.
4.
Bureau of the Census (various annual issues), “Pollution Abatement Costs and Expenditures,” Washington, U. S. Department of Commerce.
5.
Bureau of Economic Analysis (1984). “The Input-Output Structure of the U.S. Economy, 1977, “Survey of Current Business”, Vol. 64, No. 5, May, pp. 42-79.
6.
Bureau of Economic Analysis (1986). The National Income and Product Accounts of the United States, 1929-1982: Statistical Tables, Washington, U.S. Department of Commerce.
7.
ChristiansenG. B.TietenbergT. H. (1985). “Distributional and Macroeconomic Aspects of Environmental Policy,” in A. V. Kneese and J. L. Sweeney, eds., Handbook of Natural Resource and Energy Economics, Vol. 1, Amsterdam, North-Holland, pp. 345-394.
8.
Congressional Budget Office (1990). Carbon Charges, Washington, U.S. Government Printing Office.
9.
Environmental Protection Agency (1991). “Estimated Costs of Compliance with the Clean Air Act Amendments of 1990,” unpublished.
10.
HallR. E. (1978). “Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence,” Journal of Political Economy, Vol. 86, No. 6, December, pp. 971-988.
11.
HazillaM.KoppR. J. (1990). “Social Cost of Environmental Quality Regulations: A General Equilibrium Analysis,” Journal of Political Economy, Vol. 98, No. 4, August, pp. 853-873.
12.
HoM. S. (1989). “The Effects of External Linkages on U.S. Economic Growth: A Dynamic General Equilibrium Analysis,” Unpublished Ph.D. Dissertation, Harvard University.
13.
HoganW. W.JorgensonD. W. (1991). “Productivity Trends and the Costs of Reducing Carbon Dioxide Emissions,” The Energy Journal, Vol. 12, No. 1, January, pp. 67-85.
14.
JorgensonD. W. (1984). “Econometric Methods for Applied General Equilibrium Analysis,” in H. E. Scarf and J. B. Shoven, eds., Applied General Equilibrium Analysis, Cambridge, Cambridge University Press, pp. 139-203.
15.
JorgensonD. W. (1986). “Econometric Methods for Modelling Producer Behavior” in Z. Griliches and M.D. Intriligator, eds., Handbook of Econometrics, Vol. 3, Amsterdam, North-Holland, pp. 1842-1915.
16.
JorgensonD. W. (1989). “Capital as a Factor of Production,” in D. W. Jorgenson and R. Landau, eds., Technology and Capital Formation, Cambridge, MIT Press, pp. 1-36.
17.
JorgensonD. W. (1990a). “Aggregate Consumer Behavior and the Measurement of Social Welfare,” Econometrica, Vol. 58, No. 5, October, pp. 1007-1040.
18.
JorgensonD. W. (1990b). “Productivity and Economic Growth,” in E.R. Berndt and J. Triplett, eds., Fifty Years of Economic Measurement, Chicago, University of Chicago Press, pp. 19-118.
19.
JorgensonD. W.FraumeniB. M. (1981). “Relative Prices and Technical Change,” in E. Berndt and B. Field, eds., Modelling and Measuring Natural Resource Substitution, Cambridge, MIT Press, pp. 17-47.
20.
JorgensonD. W.FraumeniB. M. (1989). “The Accumulation of Human and Nonhuman Capital, 1948-1984,” in R. E. Lipsey and H. S. Tice, eds., The Measurement of Saving, Investment, and Wealth, Chicago, University of Chicago Press, pp. 227-282.
21.
JorgensonD. W.GollopF. M.FraumeniB. M. (1987). Productivity and U.S. Economic Growth, Cambridge, Harvard University Press.
22.
JorgensonD. W.LauL. J.StokerT. M. (1982). “The Transcendental Logarithmic Model of Aggregate Consumer Behavior,” in R. L. Basmann and G. Rhodes, eds., Advances in Econometrics, Vol. 1, Greenwich, JAI Press, pp. 97-238.
23.
JorgensonD. W.SlesnickD. T. (1987). “Aggregate Consumer Behavior and Household Equivalence Scales,” Journal of Business and Economic Statistics, 5, No. 2, April, pp. 219-232.
24.
JorgensonD. W.SlesnickD. T.WilcoxenP. J. (1992). “Carbon Taxes and Economic Welfare,” Brookings Papers in Economic Activity: Microeconomics 1992, pp. 393-431.
25.
JorgensonD. W.WilcoxenP. J. (1990a). “Environmental Regulation and U.S. Economic Growth,” Rand Journal of Economics, Vol. 21, No. 2, Summer, pp. 314-340.
26.
JorgensonD. W.WilcoxenP. J. (1990b). “Intertemporal General Equilibrium Modelling of U.S. Environmental Regulation,” Journal of Policy Modelling, Vol. 12, No. 4, December, pp. 1-30.
27.
JorgensonD. W.WilcoxenP. J. (1993). “Energy, the Environment, and Economic Growth,” in A. V. Kneese and J. L. Sweeney, eds., Handbook of Natural Resource and Energy Economics, Vol. 3, Amsterdam, North-Holland, pp. 1267-1349.
28.
JorgensonD. W.YunK.-Y. (1986). “The Efficiency of Capital Accumulation,” Scandinavian Journal of Economics, Vol. 88, No. 1, pp. 85-107.
29.
KaltJ. P. (1988). “The Impact of Domestic Environmental Regulatory Policies on U.S. International Competitiveness,” in A. M. Spence and H. A. Hazard, eds., International Competitiveness, Cambridge, Ballinger, pp. 221-262.
30.
KapplerF. G.RutledgeG. L. (1985). “Expenditures for Abating Pollutant Emissions From Motor Vehicles, 1968-84,” Survey of Current Business, Vol. 65, No. 7, July, pp. 29-35.
31.
PortneyP. R. (1990a). “Policy Watch: Economics and the Clean Air Act,” Journal of Economic Perspectives, Vol. 4, No. 4, Fall, pp. 173-182.
32.
PortneyP. R. (1990b). ed., Public Policies for Environmental Protection, Washington, Resources for the Future.
33.
WilcoxenP.J. (1988). “The Effects of Environmental Regulation and Energy Prices on U.S. Economic Performance,” Ph.D. Thesis, Harvard University.
