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Impacts of Regulation and Benefits of Environmental Quality.

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Impacts of Regulation and Benefits of Environmental Quality./
作者:	Archsmith, James Edward.
出版者:	Ann Arbor : ProQuest Dissertations & Theses, : 2018,
面頁冊數:	269 p.
附註:	Source: Dissertations Abstracts International, Volume: 80-02, Section: A.
Contained By:	Dissertations Abstracts International80-02A.
標題:	Environmental economics. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10813297
ISBN:	9780438290099

Impacts of Regulation and Benefits of Environmental Quality.
Archsmith, James Edward.

Impacts of Regulation and Benefits of Environmental Quality. - Ann Arbor : ProQuest Dissertations & Theses, 2018 - 269 p.

Source: Dissertations Abstracts International, Volume: 80-02, Section: A.

Thesis (Ph.D.)--University of California, Davis, 2018.

This item must not be sold to any third party vendors.

Chapter 1 considers the costs to electricity markets from regulations governing the allowed rate of water discharges, and electricity generation, at hydroelectric dams. I estimate not only the direct impact of these regulations on the dams, but spillovers to fossil fuel generators who are not bound by the regulation but participate in the same output market. Empirical estimation of these policy costs is challenging. First, there is no complete data source of hour-by-hour operations at hydroelectric dams as there is for commonly-studied fossil fuel plants. To address this data deficiency, I develop and implement a method for imputing hourly operations at dams using downstream flow monitors. Second, due to the design of these policies, variation in the stringency of these regulations is systematically correlated with the quantity of water available in a given year, raising the concern of omitted variable bias. I resolve this challenge to causal identification by taking advantage of discontinuous changes in policy stringency using a regression discontinuity design. This research has three important conclusions. 1) Regulations can have spill over to unregulated firms whenever producers have convex costs and regulations force the reallocation of output over space or time. Accounting for these spillovers is important for policy analysis. 2) While dams face non-trivial costs from these regulations, the spillovers to fossil fuel generators are similar or even larger in magnitude, making spillovers an important consideration for setting optimal policy. 3) Different electricity generation technologies, e.g., hydroelectric, fossil fuel, and renewables, produce perfectly substitutable output, but a cost-minimizing social planner would view capacity of these technologies as complements. Chapter 2, joint with Anthony Heyes and Soodeh Saberian, provides some of the first evidence that poor air quality reduces the labor productivity of workers performing cognitively-intense tasks. We observe hundreds of thousands of decisions by Major League Baseball (MLB) umpires calling "balls" and "strikes" over a period of eight years. Tracking technology deployed in all MLB venues allows us to objectively determine whether each decision made by an umpire is correct or incorrect, giving a precise measure of worker productivity. In a further attractive attribute of this research setting, umpires are assigned to travel between venues through the course of a season in a way that is as-good-as random with respect to pollution levels. Previous work considering the effect of pollution on worker productivity (Graff Zivin and Neidell (2011), Chang et al. (2016a), Chang (2016b)) or cognitive performance (Lavy et al. (2014)) consider individuals who do not move between locations and have difficulty disentangling the effects of multiple pollutants. We find umpires are markedly more likely to make mistakes when ambient levels of carbon monoxide or fine particulates are high, but still below EPA acute exposure standards. We find zero effects for other local criteria pollutants. The estimated effects predict a near 3% productivity decrement in many urban areas in the United States. Economists often think of products as being substitutes, e.g., owning more of one product may cause a household to own less of its substitute. Households may similarly view attributes of products as substitutes. For example, in response to an increase in the size of a living room television, a household may choose smaller televisions in other rooms. Chapter 3, work joint with with Kenneth Gillingham, Christopher Knittel, and David Rapson, investigates the role of attribute substitution across purchases within a household's vehicle portfolio. We have rich data detailing the vehicle portfolio of every household in California for over 8 years. Our goal is to understand how exogenous changes in the attributes of one vehicle affect the choice of attributes for other vehicles. Two factors complicate identification of attribute substitution effects. 1) The timing of a household's decision to replace a vehicle in its portfolio is a function of vehicle attributes. 2) Households have differing tastes for vehicle attributes unrelated to substitution across the portfolio; for example, large families may prefer both vehicles be larger than would a two-person household. We address these challenges to identification using household fixed effects and a novel instrumental variables strategy to account for the endogeneity in purchase timing. We find strong evidence of attribute substitution within household vehicle portfolios. Our primary focus is fuel economy, but we observe similar effects in other vehicle attributes such as weight, horsepower, and footprint. Attribute substitution effects have important implications for policies designed to improve fuel economy. A one-time exogenous increase in vehicle fuel economy can be cannibalized by as much as 60% as the household optimally responds with a follow-on purchase to replace the other vehicle in the portfolio. (Abstract shortened by ProQuest.).

ISBN: 9780438290099Subjects--Topical Terms:

535179
Environmental economics.

Impacts of Regulation and Benefits of Environmental Quality.
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520 $a Chapter 1 considers the costs to electricity markets from regulations governing the allowed rate of water discharges, and electricity generation, at hydroelectric dams. I estimate not only the direct impact of these regulations on the dams, but spillovers to fossil fuel generators who are not bound by the regulation but participate in the same output market. Empirical estimation of these policy costs is challenging. First, there is no complete data source of hour-by-hour operations at hydroelectric dams as there is for commonly-studied fossil fuel plants. To address this data deficiency, I develop and implement a method for imputing hourly operations at dams using downstream flow monitors. Second, due to the design of these policies, variation in the stringency of these regulations is systematically correlated with the quantity of water available in a given year, raising the concern of omitted variable bias. I resolve this challenge to causal identification by taking advantage of discontinuous changes in policy stringency using a regression discontinuity design. This research has three important conclusions. 1) Regulations can have spill over to unregulated firms whenever producers have convex costs and regulations force the reallocation of output over space or time. Accounting for these spillovers is important for policy analysis. 2) While dams face non-trivial costs from these regulations, the spillovers to fossil fuel generators are similar or even larger in magnitude, making spillovers an important consideration for setting optimal policy. 3) Different electricity generation technologies, e.g., hydroelectric, fossil fuel, and renewables, produce perfectly substitutable output, but a cost-minimizing social planner would view capacity of these technologies as complements. Chapter 2, joint with Anthony Heyes and Soodeh Saberian, provides some of the first evidence that poor air quality reduces the labor productivity of workers performing cognitively-intense tasks. We observe hundreds of thousands of decisions by Major League Baseball (MLB) umpires calling "balls" and "strikes" over a period of eight years. Tracking technology deployed in all MLB venues allows us to objectively determine whether each decision made by an umpire is correct or incorrect, giving a precise measure of worker productivity. In a further attractive attribute of this research setting, umpires are assigned to travel between venues through the course of a season in a way that is as-good-as random with respect to pollution levels. Previous work considering the effect of pollution on worker productivity (Graff Zivin and Neidell (2011), Chang et al. (2016a), Chang (2016b)) or cognitive performance (Lavy et al. (2014)) consider individuals who do not move between locations and have difficulty disentangling the effects of multiple pollutants. We find umpires are markedly more likely to make mistakes when ambient levels of carbon monoxide or fine particulates are high, but still below EPA acute exposure standards. We find zero effects for other local criteria pollutants. The estimated effects predict a near 3% productivity decrement in many urban areas in the United States. Economists often think of products as being substitutes, e.g., owning more of one product may cause a household to own less of its substitute. Households may similarly view attributes of products as substitutes. For example, in response to an increase in the size of a living room television, a household may choose smaller televisions in other rooms. Chapter 3, work joint with with Kenneth Gillingham, Christopher Knittel, and David Rapson, investigates the role of attribute substitution across purchases within a household's vehicle portfolio. We have rich data detailing the vehicle portfolio of every household in California for over 8 years. Our goal is to understand how exogenous changes in the attributes of one vehicle affect the choice of attributes for other vehicles. Two factors complicate identification of attribute substitution effects. 1) The timing of a household's decision to replace a vehicle in its portfolio is a function of vehicle attributes. 2) Households have differing tastes for vehicle attributes unrelated to substitution across the portfolio; for example, large families may prefer both vehicles be larger than would a two-person household. We address these challenges to identification using household fixed effects and a novel instrumental variables strategy to account for the endogeneity in purchase timing. We find strong evidence of attribute substitution within household vehicle portfolios. Our primary focus is fuel economy, but we observe similar effects in other vehicle attributes such as weight, horsepower, and footprint. Attribute substitution effects have important implications for policies designed to improve fuel economy. A one-time exogenous increase in vehicle fuel economy can be cannibalized by as much as 60% as the household optimally responds with a follow-on purchase to replace the other vehicle in the portfolio. (Abstract shortened by ProQuest.).
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