Will President Biden's Low Carbon Policy Efforts be Slowed Down by the Gruenspecht Effect and Slow Economic Growth?
Environmental and Urban Economics
DECEMBER 29, 2020
The Gruenspecht effect refers to an economist who in his Yale PHD thesis argued that the Clean Air Act can unintentionally make air pollution worse in the short run if car drivers keep their old cars longer because regulation raises the price of new cars (a regulation induced substitution effect). This point generalizes.
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