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Full-Text Articles in Law
Capital Rigidities, Latent Externalities, Shi-Ling Hsu
Capital Rigidities, Latent Externalities, Shi-Ling Hsu
Scholarly Publications
Capital, one of two fundamental inputs to production, is critical to economic growth. As such, legal rules and institutions generally seek to create more of it, and they also seek to protect existing capital from policy changes. However, capital is often durable, and during its natural life, information may emerge pointing to negative externalities resulting from operation of that capital. Legal rules and institutions, in seeking to stimulate and sustain economic growth by promoting and protecting capital, thus tend to induce the creation of excess capital. This abundance of capital creates excess resistance to new regulation or policy reform, as …
What's Old Is New: The Problem With New Source Review, Shi-Ling Hsu
What's Old Is New: The Problem With New Source Review, Shi-Ling Hsu
Scholarly Publications
No abstract provided.
The Real Problem With New Source Review, Shi-Ling Hsu
The Real Problem With New Source Review, Shi-Ling Hsu
Scholarly Publications
Editors’ Summary: When the CAA was amended in 1977, the U.S. Congress imposed pollution control requirements on new stationary sources of air pollution, called new source review (NSR), but exempted existing facilities from such requirements. By creating a more favorable regulatory environment for existing facilities than for new ones, “grandfathering” creates an incentive to keep old facilities up and running. Moreover, as a command-and control program, requiring capital expenditures for pollution control equipment makes the capital sluggishness problem worse. Combined with often confusing EPA policies and a changing political environment, NSR has resulted in a running battle between the regulated …
Reducing Emissions From The Electricity Generation Industry: Can We Finally Do It?, Shi-Ling Hsu
Reducing Emissions From The Electricity Generation Industry: Can We Finally Do It?, Shi-Ling Hsu
Scholarly Publications
No abstract provided.