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Grandfathering and environmental regulation: the law and economics of new source review under the 1970 amendments to the clean air act. The so 2 allowance trading system and the clean air act amendments of 1990: reflections on twenty years of policy innovation gabriel chan, robert stavins, robert. Economics department working paper 2010 common approaches embedded in the clean air act of 1970 included the definition of best review of economics and.