Effects of Gasoline Prices on Driving Behavior and Vehicle Markets PDF Download

Author: David Austin
Publisher: Government Printing Office
ISBN:
Category : Business & Economics
Languages : en
Pages : 60

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Book Description
Gasoline prices and driving behavior. Volume of traffic ; Speed of traffic ; Applicability of findings to other regions of the United States -- Gasoline prices and vehicle markets. Market shares for cars and light trucks ; Gasoline prices and vehicle market status ; Changes in new vehicle fuel economy and pricing ; Changes in the used vehicle market -- Study data -- Analytical approach and economic results.

Author: Kenneth Thomas Gillingham
Publisher: Stanford University
ISBN:
Category :
Languages : en
Pages : 298

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Book Description
When gasoline prices rise, people notice: the news is filled with reports of pinched household budgets and politicians feeling pressure to do something to ameliorate the burden. Yet, raising the gasoline tax to internalize externalities is widely considered by economists to be among the most economic efficiency-improving policies we could implement in the transportation sector. This dissertation brings new evidence to bear on quantifying the responsiveness to changing gasoline prices, both on the intensive margin (i.e., how much to drive) and the extensive margin (i.e., what vehicles to buy). I assemble a unique and extremely rich vehicle-level dataset that includes all new vehicle registrations in California 2001 to 2009, and all of the mandatory smog check program odometer readings for 2002 to 2009. The full dataset exceeds 49 million observations. Using this dataset, I quantify the responsiveness to gasoline price changes on both margins, as well as the heterogeneity in the responsiveness. I develop a novel structural model of vehicle choice and subsequent utilization, where consumer decisions are modeled in a dynamic setting that explicitly accounts for selection on unobserved driving preference at both the time of purchase and the time of driving. This utility-consistent model allows for the analysis of the welfare implications to consumers and government of a variety of different policies, including gasoline taxes and feebates. I find that consumers are responsive to changing gasoline prices in both vehicle choice and driving decisions, with more responsiveness than in many recent studies in the literature. I estimate a medium-run (i.e., roughly two-year) elasticity of fuel economy with respect to the price of gasoline for new vehicles around 0.1 for California, a response that varies by whether the vehicle manufacturer faces a tightly binding fuel economy standard. I estimate a medium-run elasticity of driving with respect to the price of gasoline around -0.15 for new personal vehicles in the first six years. Older vehicles are driven much less, but tend to be more responsive, with an elasticity of roughly -0.3. I find that the vehicle-level responsiveness in driving to gasoline price changes varies by vehicle class, income, geographic, and demographic groups. I also find that not including controls for economic conditions and not accounting for selection into different types of new vehicles based on unobserved driving preference tend to bias the elasticity of driving away from zero -- implying a greater responsiveness than the true responsiveness. This is an important methodological point, for much of the literature estimating similar elasticities ignores these two issues. These results have significant policy implications for policies to reduce gasoline consumption and greenhouse gas emissions from transportation. The relatively inelastic estimated responsiveness on both margins suggests that a gasoline tax policy may not lead to dramatic reductions in carbon dioxide emissions, but is a relatively non-distortionary policy instrument to raise revenue. When the externalities of driving are considered, an increased gasoline tax may not only be relatively non-distortionary, but even economic efficiency-improving. However, I find that the welfare changes from an increased gasoline tax vary significantly across counties in California, an important consideration for the political feasibility of the policy. Finally, I find suggestive evidence that the ``rebound effect'' of a policy that works only on the extensive margin, such as a feebate or CAFE standards, may be closer to zero than the elasticity of driving with respect to the price of gasoline. This suggestive finding is particularly important for the analysis of the welfare effects of any policy that focuses entirely on the extensive margin.

Author: Hans Jeekel
Publisher: Routledge
ISBN: 1317039394
Category : Nature
Languages : en
Pages : 313

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Book Description
Cars are essential in modern Western societies. Some even say that our modern lifestyles would have been impossible without cars. The dependency of Western societies on our cars is a unique situation in history, but does not get much attention; car use is seen as just a normal situation. The population at large knows the risks, knows the disadvantages, experiences the advantages and keeps driving. Using data from Western Europe, this book examines three key themes: frequent car use, car dependence, and the future of passenger car mobility in societies. In conclusion, in modern Western risk societies, more attention needs to be paid to car dependence, its driving forces, its advantages, its problems and challenges for the future.

Author: Neva Goodwin
Publisher: Taylor & Francis
ISBN: 1000791076
Category : Business & Economics
Languages : en
Pages : 655

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Book Description
• 5th edition has more content on inequality, wellbeing, international trade and the changing nature of work • Several chapters include discussion on the impacts of COVID-19 on inequality, labour markets, health and beyond • General updates, including new data, new exercises and discussion questions • Differs from other principles books on the market in its pluralist approach. It covers everything the student needs to know, whilst also placing issues in their historical, institutional, social, political, and ethical context. • Introduces students to different schools of thought in economics. Perspectives include neoclassical economics, Keynesian economics, ecological economics, institutional economics and feminist economics. • Logical building-block structure, providing student with a clear sequential approach to macroeconomic models. • Companion website with student study guide, PPT slides and teaching materials (including test bank)

Author: Daniel P. Ahn
Publisher: MIT Press
ISBN: 0262038374
Category : Business & Economics
Languages : en
Pages : 229

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Book Description
A rigorous but practical introduction to the economic, financial, and political principles underlying commodity markets. Commodities have become one of the fastest growing asset classes of the last decade and the object of increasing attention from investors, scholars, and policy makers. Yet existing treatments of the topic are either too theoretical, ignoring practical realities, or largely narrative and nonrigorous. This book bridges the gap, striking a balance between theory and practice. It offers a solid foundation in the economic, financial, and political principles underlying commodities markets. The book, which grows out of courses taught by the author at Columbia and Johns Hopkins, can be used by graduate students in economics, finance, and public policy, or as a conceptual reference for practitioners. After an introduction to basic concepts and a review of the various types of commodities—energy, metals, agricultural products—the book delves into the economic and financial dynamics of commodity markets, with a particular focus on energy. The text covers fundamental demand and supply for resources, the mechanics behind commodity financial markets, and how they motivate investment decisions around both physical and financial portfolio exposure to commodities, and the evolving political and regulatory landscape for commodity markets. Additional special topics include geopolitics, financial regulation, and electricity markets. The book is divided into thematic modules that progress in complexity. Text boxes offer additional, related material, and numerous charts and graphs provide further insight into important concepts.

Author: Ibon Galarraga
Publisher: Edward Elgar Publishing
ISBN: 0857936387
Category : Technology & Engineering
Languages : en
Pages : 625

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Book Description
Ô. . . was impressed by the scope of the contributions and their clarity. All appear to have been written specifically for this ÒHandbookÓ and all are readily comprehensible without a large amount of assumed previous knowledge. . . a very useful source document and many of the chapters represent a good starting point for student research projects.Õ Ð Tony Owen, Economics of Energy and Environmental Policy ÔIn todayÕs modern world where energy resources are increasingly scarce, climate change is a hot-button issue, and population growth continues to push the need to promote sustainable living, Handbook of Sustainable Energy is highly recommended as an absolutely invaluable contribution to graduate school libraries and the pool of literature available to professionals in the field.Õ Ð The Midwest Book Review Major contemporary issues and debates relating to the sustainable use of energy are addressed in this far-reaching Handbook. The contributing authors discuss the ongoing debates about sustainability and energy use, energy economics, renewable energy, efficiency and climate policy. New and original chapters from leading academics cover the full spectrum of relevant research including: definitions of sustainability in energy use; consumer behaviour and energy markets; the impacts of innovation and new technologies; energy economics and climate modelling; low carbon economies and renewable energies. The authors critically engage with perspectives from developed and developing countries from both global and regional standpoints. This Handbook will make a timely and important contribution to the study of energy, climate change and climate economics, and will prove essential reading for international researchers in the fields of natural resources, climate change and energy. Students in environmental science faculties, economics departments, business schools and engineering schools will also find this important and enriching compendium insightful. Similarly, policy-makers in energy and environment ministries and international organizations will find much topical debate to engage them.

Author: Jonathan M. Harris
Publisher: Routledge
ISBN: 1315448513
Category : Business & Economics
Languages : en
Pages : 584

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Book Description
Harris and Roach present a compact and accessible presentation of the core environmental and resource topics and more, with analytical rigor as well as engaging examples and policy discussions. They take a broad approach to theoretical analysis, using both standard economic and ecological analyses, and developing these both from theoretical and practical points of view. It assumes a background in basic economics, but offers brief review sections on important micro and macroeconomic concepts, as well as appendices with more advanced and technical material. Extensive instructor and student support materials, including PowerPoint slides, data updates, and student exercises are provided.

Author: United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Energy and Air Quality
Publisher:
ISBN:
Category : Technology & Engineering
Languages : en
Pages : 128

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Book Description

Author: Philip E. Auerswald
Publisher: OUP USA
ISBN: 0199795177
Category : Business & Economics
Languages : en
Pages : 281

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Book Description
The Coming Prosperity disarms the current narratives of fear and brings to light the vast new opportunities in the expanding global economy.

Author: Hans Wiesmeth
Publisher: Springer Science & Business Media
ISBN: 3642245145
Category : Business & Economics
Languages : en
Pages : 316

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Book Description
This text provides an analysis and investigation of the most essential areas of environmental theory and policy, including international environmental problems. The approach is based on standard theoretical tools, in particular equilibrium analysis, and aims to demonstrate how economic principles can help to understand environmental issues and guide policymakers. Current topics including climate change, overfishing and integrated approaches to environmental policies are carefully analyzed in this framework, and a multitude of practical examples from various parts of the world is presented.