Regulation
The Overly Facile Comparison Between Regulations and Taxes
Romney’s argument for a regulatory cap equates regulations with taxes. My initial reaction was that this was an absurd comparison – taxes are payments to the government, whereas regulations reduce externalities. But after further thought, I decided that my initial reaction was a little too facile. Regulatory costs do have some of the same economic …
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CONTINUE READINGThe significance of SB 1201 for the Los Angeles River
In late August, Governor Brown signed SB 1201 (de León), which promotes public access to the Los Angeles River. Los Angeles County Flood Control District is now required to provide for public use of the River for recreational and educational purposes, when such uses are not inconsistent with flood control and water conservation. As Sean Hecht …
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CONTINUE READINGThe Illegality of a Regulatory Cap
A key part of Romney’s attack on “over-regulation” is his proposed regulatory cap. If an agency wanted to issue a new regulation, a cap would require an agency to repeal a regulation (or package of regulations) with equal cost. To make this work, Romney would need new legislation from Congress, not just an executive order. …
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CONTINUE READINGWhat Happens After Election Day?
We’re only two weeks away from the election. What will happen in terms of the environment if Obama wins? What happens if Romney wins? The difference is dramatic. If Obama wins. . . The results of an Obama victory are fairly predictable. There are a number of new regulations that are now wending their way …
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CONTINUE READINGSaving Public Transit: Finding the Money
We all know that public dollars are scarce, especially for public transit. As the federal government scales back its investments in the nation’s buses and trains, local governments are stepping up. Los Angeles in particular has innovated a way to leverage their existing sales tax revenue for transit to start building more projects sooner. Gloria …
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CONTINUE READINGThe trouble with resource shuffling
Federal Energy Regulatory Commission (FERC) Chairman Jon Wellinghoff recently voiced concern that California’s cap-and-trade program could lead to unforeseen consequences that would upset energy markets. He was speaking about resource shuffling, and echoing a letter his fellow Commissioner sent to the California Air Resources Board (CARB) in August. What is resource shuffling? According to CARB, …
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CONTINUE READINGPACE Court Ruling Now Final: So What’s the Future of PACE?
Federal Judge Claudia Wilken, who has been presiding over the West Coast lawsuit to overturn federal housing policy and restore residential PACE energy financing programs, made her August ruling final today. As you may recall, Judge Wilken ruled in August that the Federal Housing Finance Authority (FHFA) would have to pursue a notice-and-comment rulemaking on …
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CONTINUE READINGKey Senate Races, Energy Policy and the Environment
In a series of posts, I’ve surveyed the key Senate races — meaning those that don’t seem to be “locks” for either candidate. These races will probably determine control of the Senate. The candidates differ greatly in their positions on the environment and on energy policy. Here is a quick summary of what is at …
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CONTINUE READINGRegulatory Field Experiments?
I really like Jonathan’s post about MIT’s J-PAL. Permit me to offer a few points. 1. The field experiment economists are randomly allocating stuff at the individual level. Your household might receive a free newspaper, a report indicating how your electricity consumption differs from neighbors, a report indicating how your politician is performing on a …
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CONTINUE READINGHow About a Regulatory Action Lab?
I have just finished reading Abhijit Banerjee and Esther Duflo’s excellent and very thoughtful book, Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty. MIT economists Banerjee and Duflo reject broad, sweeping arguments concerning either the necessity for infusions of foreign aid or the futility of such efforts. Instead, they advocate detailed …
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