期刊
INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION
卷 47, 期 -, 页码 186-229出版社
ELSEVIER SCIENCE BV
DOI: 10.1016/j.ijindorg.2016.05.002
关键词
Environmental policy; Consumer preferences; CO2 emissions; Automobiles
类别
资金
- Deutsche Forschungsgemeinschaft [SFB-TR 15]
We analyze the evolution of CO2 emissions of new vehicles sold in France between 2003 and 2008. We investigate in particular the effect of two policies introduced during that time: the energy label requirement, which went into effect in the end of 2005, and a feebate based on CO2 emissions of new vehicles in 2008. We estimate a flexible model of demand for automobiles that incorporates consumers' heterogeneity and valuation of vehicle CO2 emissions. Our results show that there has been a shift in preferences towards low-emitting cars. Moreover, the timing of these changes is consistent with the introduction of the two policies. This suggests that the feebate had a crowding-in effect in addition to its price effect. Overall, the change in preferences accounts for 40% of the overall decrease in average CO2 emissions of new cars in the period. (C) 2016 Elsevier B.V. All rights reserved.
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