5 第五讲 市场失灵与政府政策.ppt

* Nitrogen oxides increase ground-level ozone, which has adverse health effects. For more information, see /airmarkets/ For information about Europe’s new carbon emissions trading program, see the Financial Times article featured in this chapter’s new “In the News” box. You can also find lots of good articles on this program at the website of the Financial Times, . Under Obama’s cap-and-trade proposal, permits will be auctioned to polluters. As Mankiw notes in his New York Times piece reprinted in the textbook, such a system is equivalent to a tax. In contrast, under McCain’s propose