Environmental policy and time consistency - emissions taxes and emissions trading

The authors examine policy problems related to the use of emissions taxes, and emissions trading, two market-based instruments for controlling pollution by getting regulated firms to adopt cleaner technologies. By attaching an explicit price to emissions, these instruments give firms an incentive to continually reduce their volume of emissions. Command, and-control emissions standards create incentives to adopt cleaner technologies only up to the point where the standards are no longer binding (at which point the shadow price on emissions falls to zero). But the ongoing incentives created by the market-based instruments are not necessarily right, either. Time-consistency constraints on the setting of these instruments limit the regulator's ability toset policies that lead to efficiency in adopting technology options. After examining the time-consistency properties of a Pigouvian emissions tax, and of the emissions trading, the authors find that: 1) If damage is linear, efficiency in adopting technologies involves either universal adoption of the new technology, or universal retention of the old technology, depending on the cost of adoption. The first best tax policy, and the first-best permit-supply policy are both time-consistent under these conditions. 2) If damage is strictly convex, efficiency may require partial adoption of the new technology. In this case, the first-best tax policy is not time-consistent, and the tax rate must be adjusted after adoption has taken place (ratcheting). Ratcheting will induce an efficient equilibrium if there is a large number of firms. If there are relatively few firms, ratcheting creates too many incentives to adopt the new technology. 3) The first-best supply policy is time-consistent if there is a large number of firms. If there are relatively few firms, the first-best supply policy may not be time-consistent, and the regulator must ratchet the supply of permits. With this policy, there are not enough incentives for firms to adopt the new technology. The results do not strongly favor one policy instrument over the other, but if the point of an emissions trading program is to increase technological efficiency, it is necessary to continually adjust the supply of permits in response to technological change, even when the damage is linear. This continual adjustment is not needed for an emissions tax when damage is linear, which may give emissions taxes an advantage over emissions trading.General Technology,Environmental Economics&Policies,International Terrorism&Counterterrorism,Technology Industry,ICT Policy and Strategies,Environmental Economics&Policies,General Technology,International Terrorism&Counterterrorism,Carbon Policy and Trading,Energy and Environment

Equilibrium incentives for adopting cleaner technology under emissions pricing

Policymakers sometimes presume that adopting a less polluting technology necessarily improves welfare. This view is generally mistaken. Adopting a cleaner technology is costly, and this cost must be weighed against the technology's benefits in reduced pollution and reduced abatement costs. The literature to date has not satisfactorily examined whether emissions pricing properly internalizes this tradeoff between costs and benefits. And if the trend toward greater use of economic instruments in environmental policy continues, as is likely, the properties of those instruments must be understood, especially for dynamic efficiency. The authors examine incentives for adopting cleaner technologies in response to Pigouvian emissions pricing in equilibrium (unlike earlier analyses, which they contend, have been generally incomplete and at times misleading). Their results indicate that emissions pricing under the standard Pigouvian rule leads to efficient equilibrium adoption of technology under certain circumstances. They show that the equilibrium level of adopting a public innovation is efficient under Pigouvian pricing only if there are enough firms that each firm has a negligible effect on aggregate emissions. When those circumstances are not satisfied, Pigouvian pricing does not induce an efficient (social welfare-maximizing) level of innovation. The potential for inefficiency stems from two problems with the Pigouvian rule. First, the Pigouvian price does not discriminate against each unit of emissions according to its marginal damage. Second, full ratcheting of the emissions price in response to declining marginal damage as firms adopt the cleaner technology is correct expost but distorts incentives for adopting technology ex ante. The next natural step for research is to examine second-best pricing policies or multiple instrument policies. The challenge is to design regulatory policies that go some way toward resolving problems yet are geared to implementation in real regulatory settings. Clearly, such policies must use more instruments than emissions pricing alone. Direct taxes or subsidies for technological change, together with emissions pricing, should give regulators more scope for creating appropriate dynamic incentives. Such instruments are already widely used: investment tax credits (for environmental research and development), accelerated depreciation (for pollution control equipment), and environmental funds (to subsidize the adoption of pollution control equipment). Such direct incentives could be excessive, however, if emissions pricing is already in place. All incentives should be coordinated.Public Health Promotion,Environmental Economics&Policies,Health Monitoring&Evaluation,General Technology,International Terrorism&Counterterrorism,International Terrorism&Counterterrorism,Carbon Policy and Trading,Environmental Economics&Policies,Health Monitoring&Evaluation,General Technology

C-Terminal truncation of NR2A subunits impairs synaptic but not extrasynaptic localization of NMDA receptors

NMDA receptors interact via the extended intracellular C-terminal domain of the NR2 subunits with constituents of the postsynaptic density for purposes of retention, clustering, and functional regulation at central excitatory synapses. To examine the role of the C-terminal domain of NR2A in the synaptic localization and function of NR2A-containing NMDA receptors in hippocampal Schaffer collateral–CA1 pyramidal cell synapses, we analyzed mice which express NR2A only in its C-terminally truncated form. In CA1 cell somata, the levels, activation, and deactivation kinetics of extrasynaptic NMDA receptor channels were comparable in wild-type and mutant NR2A^(ΔC/ΔC) mice. At CA1 cell synapses, however, the truncated receptors were less concentrated than their full-length counterparts, as indicated by immunodetection in cultured neurons, synaptosomes, and postsynaptic densities. In the mutant, the NMDA component of evoked EPSCs was reduced in a developmentally progressing manner and was even more reduced in miniature EPSCs (mEPSCs) elicited by spontaneous glutamate release. Moreover, pharmacologically isolated NMDA currents evoked by synaptic stimulation had longer latencies and displayed slower rise and decay times, even in the presence of an NR2B-specific antagonist. These data strongly suggest that the C-terminal domain of NR2A subunits is important for the precise synaptic arrangement of NMDA receptors

Ensnaring the Elusive Eodermdrome

We wish to introduce the recreational aspects of the eodermdrome, which is a recently formulated concept dealing with the structure of language units such as letters and words. Although this concept may eventually lead to a numerical way to compare the structural differences between languages and to trace structural development in a single language, the majority of individuals who learn about eodermdromes evince less interest in their potential scholarly ramifications than in the delightful task of creating them

Automated ECG interpretation—a brief history from high expectations to deepest networks

This article traces the development of automated electrocardiography from its beginnings in Washington, DC around 1960 through to its current widespread application worldwide. Changes in the methodology of recording ECGs in analogue form using sizeable equipment through to digital recording, even in wearables, are included. Methods of analysis are considered from single lead to three leads to twelve leads. Some of the influential figures are mentioned while work undertaken locally is used to outline the progress of the technique mirrored in other centres. Applications of artificial intelligence are also considered so that the reader can find out how the field has been constantly evolving over the past 50 years

Analgesic Activity of Conyza Floribunda Extracts in Swiss Albino Mice

Traditional medicine still plays an important role in managing infections especially in Africa. Extracts of Conyza floribunda Kunth are used to treat sore throat, ringworm and other skin related infections, toothache and to stop bleeding from injuries. Extracts from the plant have been reported to exhibit antibacterial and antifungal activities. Previous phytochemical studies on the plant yielded terpenoid, sterols and flavonoids. The aim of the present study was to determine the analgesic activity Conyza floribunda extracts. Methanol, DCM and n-hexane extracts of the plant were subjects to toxicity, hot plate latency and acetic acid induced-writhing tests using Swiss Albino Mice. The plant extract showed analgesic activity in both hot plate latency and acetic acid induced-writhing tests. The extracts significantly increased the response time in the animals compared to the negative control. In the hot plate latency test, the analgesic activity of the extracts and that of morphine rose over time to peak at 90 minutes and then decreased afterwards. In the acetic acid-induces writhing test, administration of the plant extracts significantly reduced the number of abdominal contractions compared to the negative control. The percentage inhibitions of abdominal contractions were 67.2, 46.5 and 39.4 for methanol, DCM and n-hexane extracts respectively. The findings from this study have confirmed the folkloric information that extracts from C. floribunda have analgesic properties. We therefore recommend the extracts from the plant for use in pain management. Further studies should be carried out to isolate and characterize the analgesic principles from the plant. Keywords: Conyza floribunda, Toxicity test, Analgesic activity, Hot plate test, Writhing test DOI: 10.7176/JNSR/12-12-01 Publication date:June 30th 2021

Central Nervous System Parasitosis and Neuroinflammation Ameliorated by Systemic IL-10 Administration in Trypanosoma brucei-Infected Mice

Peer reviewedPublisher PD

Cliff Roosting by Migrant Semipalmated Sandpipers, Calidris pusilla, at Farrier's Cove, Shepody Bay, New Brunswick

An observation of Semipalmated Sandpipers roosting on a cliff face in Shepody Bay, New Brunswick, suggests changes from “traditional” roosting sites. Sandpipers may be altering their roosting patterns due to pressures from avian predators such as the recent, and successful, re-introduction of the Peregrine Falcon