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Draft Report Overview: March 20, 2003 Prepared for:

This draft report outlines the development of an economic analysis framework to guide policy decisions on regional air quality issues. The framework aims to ensure consistency in methods, assumptions, and data sources for stakeholders. It provides guidance on benefits and costs analysis, regional economic impacts, and distributional issues.

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Draft Report Overview: March 20, 2003 Prepared for:

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  1. Developing a Common Frameworkfor Economic Analysis Draft Report Overview: March 20, 2003 Prepared for: Planning Team MeetingWestern Regional Air Partnership Presented by: Doug Jeavons — BBC Research & Consulting and Dr. Michael Mueller 3773 Cherry Creek N. Drive, Suite 850 Denver, Colorado 80209 800.748.3222 jeavons@bbcresearch.com March 13, 2003

  2. WRAP survey of members’ needs / interests  States and tribes want WRAP help  Varied interests / needs, including:  Interpretation  Advice and guidance  Actual assistance  Tribal focus  Analyze both benefits and costs

  3. Project overview Develop a common framework for economic analysis: Support policy decisions by WRAP members with respect to the RHR and other regional air quality issues Promote consistency in methods, assumptions and data sources Objectives Draft final report for review in mid-April 2003 Complete framework by June 2003 Timeline Main report: General framework Special topics Conceptual case study Literature review Deliverables

  4. Where did the Framework come from? General Literatureand Practice Specific Literatureand Practice  Tribal economic issues  Industry health  Incentive-based approaches  Economic development  Market response  Benefits valuation  Guidance documents  Applications  WRAP member survey  EAF guidance  Study team experience Judgment

  5. What the Framework is  Guidance document  Tailored to the WRAP  Specific and practical recommendations  Addresses benefits, costs, regional economic impacts and distributional issues  Tool to assist with policy decisions

  6. What the Framework does • Provide understandable economic definitions • Identify a 17-step process for economic analysis • Choose among alternative methods and models • Recommend key data sources, equations and economic values • Suggest approaches to characterize uncertainty • Recommend ways to report information consistently and usefully in a policy-making context • Depict examples from a hypothetical case study • Identify sources of further information

  7. What the Framework does NOT do • Make advances in economic theory or technique • Provide a turn-key model • Make policy decisions • Eliminate unique issues and challenges that will arise

  8. Framework overview Economic ImpactandDistributionalAnalysis Overall Issues and Initial Information Requirements Benefit-CostAnalysis Overall Issues • Geographic scope • Treatment of future • Uncertainty Benefits • Categories of Benefits • Quantification Regional Economic Impacts • Modeling market response • Assessing industry health • Effects on economic development Costs • Types of social costs • Quantification Initial Information Requirements • Establishing the baseline • Defining regulatory strategies Benefit-CostComparison Distributional Analysis • Assessing tribal effects • Low-income, minority populations and small businesses • Aggregating,comparing and reporting

  9. Next steps  Further review by EAF and others  Identify initial applications  Establish socioeconomic baseline database  Test on adopted strategies (exercise / test)  Apply to likely alternative strategies (2007)

  10. Strategic role

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