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Publications

Viewing all publications in Academic Articles/Working Papers
  • Environmental Standards, Thresholds, and the Next Battleground of Climate Change Regulations
    Academic Article/Working Paper

    Environmental Standards, Thresholds, and the Next Battleground of Climate Change Regulations

    By Kimberly M. Castle and Richard L. Revesz
    February 15, 2019

    This article addresses a central battleground of the debate about the future of greenhouse gas regulations: the valuation of particulate matter reductions that accompany reductions in carbon dioxide emissions. The benefits from particulate matter reductions are substantial for climate change rules, accounting for almost one half of the quantified benefits of the Obama Administration’s Clean Power Plan. These benefits are also significant for regulations of other air pollutants, making this issue one of far-reaching importance for the future of environmental protection.

  • Will You Be There for Me the Whole Time?
    Academic Article/Working Paper

    Will You Be There for Me the Whole Time?

    On the importance of obligation periods in design of capacity markets

    By Sylwia Bialek and Burcin Unel
    February 7, 2019

    This paper discusses how variations in the availability of various resources (generation seasonality) and the fluctuations in the electricity usage (load seasonality) relate to efficient capacity market design. Even though capacity markets have been around for two decades, the necessity as well as the design of these markets are subjects of ongoing debates. Many design questions, such as how to determine the amount of capacity to be procured, how to prevent market power, or how to provide incentives for performance dominate both the academic literature and the policymaking discussions. Another design aspect that plays a crucial role for market participants is the length of the capacity product procured (“obligation period”), because it defines the length of time for which a seller commits to maintaining its capacity available. However, a thorough analysis of obligation periods has been overlooked by literature and policymaking discussions. Our article works to provide this analysis.

  • Environmental Federalism in a Dark Time
    Academic Article/Working Paper

    Environmental Federalism in a Dark Time

    By Denise Grab and Michael A. Livermore
    December 20, 2018

    The principle of federalism has become something of a rallying cry in recent efforts by the Trump Administration and its allies to scale back environmental regulation. For example, during his short and troubled tenure, former EPA Administrator Scott Pruitt argued that the federal government has become too intrusive and that states should be returned to a position of “regulatory primacy” on environmental matters. Some states have responded to the impeding federal retreat by forging ahead. For example, California has continued to take aggressive steps to curb greenhouse gas emissions, and has even taken steps to project its influence internationally. However, despite these hopeful signs of resistance, the net effect of the Trump Administration’s efforts to scale back federal environmental policy is likely to undermine rather than energize state environmental policymaking, especially in Republican-dominated and swing states, where the climate policy vacuum is most acute.

  • Regulation and Distribution
    Academic Article/Working Paper

    Regulation and Distribution

    By Richard L. Revesz
    December 17, 2018

    This article, published in the New York University Law Review, tackles a question that has vexed the administrative state for the last half century: how to seriously take account of the distributional consequences of regulation. Academic literature has largely accepted the view that distributional concerns should be moved out of the regulatory domain and into Congress’s tax policy portfolio. In doing so, it has overlooked the fact that tax policy is ill suited to provide compensation for significant environmental, health, and safety harms. And the congressional gridlock that has bedeviled us for several decades makes this enterprise even more of a nonstarter. The time has come to make distributional consequences a core concern of the regulatory state – otherwise, future socially beneficial regulations could well encounter significant roadblocks. This article provides the blueprint for the establishment of a standing, broadly constituted interagency body charged with addressing serious negative consequences of regulatory measures on particular groups.

  • Congress and the Executive
    Academic Article/Working Paper

    Congress and the Executive

    Challenging the Anti-Regulatory Narrative

    By Richard L. Revesz
    August 15, 2018

    Critics of the administrative state have been urging Congress to rein in regulatory action, claiming that regulations created by executive agencies are undesirable as a matter of policy and are in violation of constitutional principles. In a troubling development, the Trump Administration has also turned away from cost-benefit analysis in order to carry out its anti-regulatory agenda, disregarding an established bipartisan consensus that stretched back several decades. This article, published in the Michigan State Law Review, argues that this anti-regulatory position is unwarranted. These executive regulatory actions produced large net benefits to the American people, were carried out pursuant to authority delegated by Congress, and were reviewed by the courts. By contrast, more robust action by Congress, as long as Congress continues to exhibit its current gridlock on important policy issues like climate change, is unlikely to be beneficial.