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Averting Regulatory Enforcement: Evidence from New Source Review

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Author Info
Nathaniel O. Keohane
Erin T. Mansur
Andrey Voynov

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Abstract

"This paper explores firms' response to regulatory enforcement. New Source Review (NSR), a provision of the Clean Air Act, imposes stringent emissions limitations on significantly modified older power plants. In 1999, the Environmental Protection Agency (EPA) sued owners of 46 plants for NSR violations. We study how electricity companies respond to both the perceived threat of future action, and the action itself. A discrete choice model estimates plants likelihood of being named in lawsuits increases with large historic emissions and investments. On the eve of the lawsuits, emissions at plants with a one standard deviation greater probability of being sued fell approximately 10%." Copyright (c) 2009, The Author(s) Journal Compilation (c) 2009 Wiley Periodicals, Inc..

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Publisher Info
Article provided by Blackwell Publishing in its journal Journal of Economics & Management Strategy.

Volume (Year): 18 (2009)
Issue (Month): 1 (03)
Pages: 75-104
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Handle: RePEc:bla:jemstr:v:18:y:2009:i:1:p:75-104

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  2. Laplante, Benoit & Rilstone, Paul, 1996. "Environmental Inspections and Emissions of the Pulp and Paper Industry in Quebec," Journal of Environmental Economics and Management, Elsevier, vol. 31(1), pages 19-36, July. [Downloadable!] (restricted)
  3. John List & Daniel Millimet & Warren McHone, 2004. "The Unintended Disincentive in the Clean Air Act," Advances in Economic Analysis & Policy, Berkeley Electronic Press, vol. 4(2), pages 1204-1204. [Downloadable!] (restricted)
  4. Glachant, Matthieu, 2007. "Non-binding voluntary agreements," Journal of Environmental Economics and Management, Elsevier, vol. 54(1), pages 32-48, July. [Downloadable!] (restricted)
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  6. Nelson, Randy A, 1984. "Regulation, Capital Vintage, and Technical Change in the Electric Utility Industry," The Review of Economics and Statistics, MIT Press, vol. 66(1), pages 59-69, February. [Downloadable!] (restricted)
  7. Bartel, Ann P & Thomas, Lacy Glenn, 1985. "Direct and Indirect Effects of Regulation: A New Look at OSHA's Impact," Journal of Law & Economics, University of Chicago Press, vol. 28(1), pages 1-25, April.
  8. Juan-Pablo Montero, 1999. "Voluntary Compliance with Market-Based Environmental Policy: Evidence from the U.S. Acid Rain Program," Journal of Political Economy, University of Chicago Press, vol. 107(5), pages 998-1033, October. [Downloadable!] (restricted)
  9. Magat, Wesley A & Viscusi, W Kip, 1990. "Effectiveness of the EPA's Regulatory Enforcement: The Case of Industrial Effluent Standards," Journal of Law & Economics, University of Chicago Press, vol. 33(2), pages 331-60, October.
  10. Lutz, Stefan & Lyon, Thomas P & Maxwell, John W, 2000. "Quality Leadership When Regulatory Standards Are Forthcoming," Journal of Industrial Economics, Blackwell Publishing, vol. 48(3), pages 331-48, September. [Downloadable!] (restricted)
  11. Maxwell, John W & Lyon, Thomas P & Hackett, Steven C, 2000. "Self-Regulation and Social Welfare: The Political Economy of Corporate Environmentalism," Journal of Law & Economics, University of Chicago Press, vol. 43(2), pages 583-617, October.
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  12. Eckert, Heather, 2004. "Inspections, warnings, and compliance: the case of petroleum storage regulation," Journal of Environmental Economics and Management, Elsevier, vol. 47(2), pages 232-259, March. [Downloadable!] (restricted)
  13. Anton, W.R.Q.Wilma Rose Q. & Deltas, George & Khanna, Madhu, 2004. "Incentives for environmental self-regulation and implications for environmental performance," Journal of Environmental Economics and Management, Elsevier, vol. 48(1), pages 632-654, July. [Downloadable!] (restricted)
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  14. Lyon, Thomas P. & Maxwell, John W., 2003. "Self-regulation, taxation and public voluntary environmental agreements," Journal of Public Economics, Elsevier, vol. 87(7-8), pages 1453-1486, August. [Downloadable!] (restricted)
  15. Murphy, Kevin M & Topel, Robert H, 1985. "Estimation and Inference in Two-Step Econometric Models," Journal of Business & Economic Statistics, American Statistical Association, vol. 3(4), pages 370-79, October.
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