0 an activity, person, group, etc. that is grandfathered is not covered by a new law because of a grandfather clause:
Under appropriate conditions, the lump sum distribution can equal the economic value of such grandfathered tradable permits.
Just over half, 54.5 per cent, of workers aged 50 with ten years of service at conversion were fully grandfathered for retirement at age 55.
The paper then discusses how different emission control instruments, including emissions taxes, auctioned emissions permits, and grandfathered emissions permits, provide incentives for innovation.
For those who wait until age 65, however, the share of grandfathered workers drops to less than half, 46.7 per cent.
If an industry is not yet privatized, then another avenue exists for a government to collect rent from pollution tax credits or grandfathered quotas.
For workers age 50 at the time of conversation, the likelihood of being grandfathered or receiving higher benefits rose with years of service.
Nearly two-thirds of 50-year-old workers with 25 years of service were fully grandfathered in their old plan benefit if they retire at age 55 under their new plan.
Selling the firm in a market transaction can capture a significant amount if not all of the rent given the firm through tax credits or grandfathered permits.
