@article{Liao:118527,
      recid = {118527},
      author = {Liao, Chao-Ning},
      title = {Modelling a mixed system of air pollution fee and tradable  permits for controlling nitrogen oxide: a case study of  Taiwan},
      journal = {Australian Journal of Agricultural and Resource Economics},
      address = {2007},
      number = {428-2016-27568},
      pages = {16},
      year = {2007},
      abstract = {A mixed-integer non-linear programming model that  minimises the total regulatory
costs of controlling  nitrogen oxide is used to investigate how a newly proposed  permit
trading scheme in Taiwan, which incorporates the  features of banking and a nonone-
to-one trading ratio, may  affect firms’ emission reduction strategies and  permit
trading decisions. Compared to the previous  regulation where only an air pollution
fee is used, the new  regulation that requires a reduction in emissions by 10 per  cent
from the emission level in the year 2000 for a 5 year  period will increase the costs by
77 per cent, which is  equivalent to US
#
9.87 million. The design of banking and  the
increasing returns to scale characteristic of pollution  control among firms might lead
to an uneven reduction in  emissions in each year. Setting a lower reservation rate  for
banking would, however, help maintain a more stable  environmental quality without
a significant loss to the  government in terms of air pollution fee revenue.},
      url = {http://ageconsearch.umn.edu/record/118527},
      doi = {https://doi.org/10.22004/ag.econ.118527},
}