[Federal Register Volume 64, Number 56 (Wednesday, March 24, 1999)]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 99-7179]
ENVIRONMENTAL PROTECTION AGENCY
Science Advisory Board; Notification of Public Advisory Committee
Pursuant to the Federal Advisory Committee Act, Pub. L. 92-463,
notice is hereby given that the Environmental Economics Advisory
Committee (EEAC) of the Science Advisory Board (SAB), will meet on
April 20, 1999, from 9:00 am to no later than 4:00 pm at The Latham
Hotel, 3000 M Street, NW, Washington, DC; telephone (202) 726-5000. All
times noted are Eastern Daylight Time. This meeting is open to the
public, however, due to limited space, seating will be on a first-come
basis. For further information concerning this meeting, please contact
the individuals listed below. Documents that are the subject of SAB
reviews are normally available from the originating EPA office and are
not available from the SAB Office.
The primary purpose of the meeting will be to complete the
Committee's review of the economic analysis guidelines being developed
by the Environmental Protection Agency.
Background Information on Economic Analysis Guidelines
The Environmental Economics Advisory Committee (EEAC or the
Committee) has been asked to review the revised Guidelines for
Preparing Economic Analyses, a document produced under the direction of
the EPA's Regulatory Policy Council. The guidelines are designed to
reflect Agency policy on the conduct of the economic analyses called
for under applicable legislative and administrative requirements,
including, but not limited to Executive Order 12866. These guidelines
are intended to provide EPA analysts with a concise but thorough
treatment of mainstream thinking on important technical issues so that
they can conduct credible and consistent economic analyses. They refer
to methods and practices that are commonly accepted in the
environmental economics profession; however, they are not intended to
preclude new or innovative forms of analysis. The guidelines are shaped
by administrative and statutory requirements that contain direct
references to the development of economic information during the
development of regulations (e.g., evaluations of economic
This will be the final review meeting on the guidelines. The EEAC
was first briefed on the draft guidelines at its August 19, 1998
meeting (see 63 FR 41820, August 5, 1998). Additional discussions
occurred on the guidelines at the Committee's November 18, 1998 meeting
(see 63 FR 57295, October 27, 1998). At those meetings, the Agency
presented information on, and then discussed with EEAC members, each
section of the draft guidelines.
Charge to the Committee
The Agency charge asks the EEAC the following questions:
(1) Do the published economic theory and empirical literature
support the statements in the guidance document on the treatment of
discounting benefits and costs in the following circumstances: (a)
Discounting private and public costs for use in an economic impact
analysis?; (b) Discounting social benefits and costs in an
intragenerational context?; (c) Discounting social benefits and costs
in an intergenerational context?; and (d) Discounting social benefit
and cost information that is reported in nonmonetary terms?
(2) Do the published economic theory and empirical literature
support the statements in the guidance document on quantifying and
valuing the social benefits of reducing fatal human health risks?
(3) Do the published economic theory and empirical literature
support the statements in the guidance document on the treatment of
certainty equivalents in the assessment of social benefits and costs of
(4) Do the published economic theory and empirical literature
support the statements in the guidance document on the merits and
limitations of different valuation approaches to the measurement of
social benefits from
reductions in human morbidity risks and improvements in ecological
conditions attributable to environmental policies?
(5) Do the published economic theory and empirical literature
support the statements in the guidance document on the relationships
and distinctions between the measurement of economic impacts and net
(6) Does the guidance document contain an objective and reasonable
presentation on the published economic theory, empirical literature,
and analytic tools associated with computable general equilibrium (CGE)
models, and description of their relevance for economic analyses
performed by the EPA?
(7) Does the guidance document contain an objective and reasonable
presentation on the measurement of economic impacts, including
approaches suitable to estimate impacts of environmental regulations on
the private sector, public sector and households? This includes, for
example, the measurement of changes in market prices, profits, facility
closure and bankruptcy rates, employment, market structure, innovation
and economic growth, regional economies, and foreign trade.
(8) Does the guidance document contain a reasonable presentation
and set of recommendations on the selection of economic variables and
data sources used to measure the equity dimensions identified as
potentially relevant to environmental policy analysis?
The Committee will provide a formal response to EPA as a result of
the review of these guidelines.
For Further Information--Single copies of the guidelines
information provided to the Committee can be obtained by contacting Mr.
Brett Snyder, Director, Economy and Environment Division (2172), Office
of Policy, US Environmental Protection Agency, 401 M Street SW.,
Washington DC 20460, telephone (202) 260-5610, fax (202) 260-2685; or
via e-mail at: <firstname.lastname@example.org. Anyone wishing to make
an oral presentation at the meeting must contact Mr. Thomas Miller,
Designated Federal Officer for the Environmental Economics Advisory
Committee, in writing no later than 4:00 pm, April 12, 1999, at U.S.
EPA Science Advisory Board (1400), 401 M Street SW., Washington, DC
20460, fax (202) 260-7118, or via e-mail at: <email@example.com>. The
request should identify the name of the individual who will make the
presentation and an outline of the issues to be addressed. At least 35
copies of any written comments to the Committee are to be given to Mr.
Miller no later than the time of the presentation for distribution to
the Committee and the interested public. To discuss technical aspects
of the meeting, please contact Mr. Miller by telephone at (202) 260-
Providing Oral or Written Comments at SAB Meetings
The Science Advisory Board expects that public statements presented
at its meetings will not be repetitive of previously submitted oral or
written statements. In general, each individual or group making an oral
presentation will be limited to a total time of ten minutes. For
conference call meetings, opportunities for oral comment will be
limited to no more than five minutes per speaker and no more than
fifteen minutes total. Written comments (at least 35 copies) received
in the SAB Staff Office sufficiently prior to a meeting date, may be
mailed to the relevant SAB committee or subcommittee prior to its
meeting; comments received too close to the meeting date will normally
be provided to the committee at its meeting. Written comments may be
provided to the relevant committee or subcommittee up until the time of
Individuals requiring special accommodation at this meeting,
including wheelchair access, should contact Mr. Miller at least five
business days prior to the meeting so that appropriate arrangements can
Dated: March 15, 1999.
Donald G. Barnes,
Staff Director, Science Advisory Board.
[FR Doc. 99-7179 Filed 3-23-99; 8:45 am]
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