Social Cost of Environmental Quality Regulations: A General Equilibrium Analysis
构建美国经济计量一般均衡模型，估算《清洁空气法》和《清洁水法》的社会成本，发现社会成本与私人成本差异显著，且一般均衡影响广泛。
The use of cost-benefit analysis by federal regulatory agencies has expanded greatly in scope and sophistication. Unfortunately, agencies continue to employ private cost, rather than social cost, to evaluate environmental quality regulations. Furthermore, general equilibrium impacts and intertemporal effects of regulations are typically not included in the evaluation. In this paper, the authors estimate the social cost of environmental quality regulations mandated by the Clean Air Act and the Clean Water Act. They construct an econometric general equilibrium model of the United States to demonstrate that social costs estimates diverge sharply from private costs estimates. The authors also demonstrate that general equilibrium impacts are significant and pervasive. Copyright 1990 by University of Chicago Press.