New Vehicle Characteristics and the Cost of the Corporate Average Fuel Economy Standard
New Vehicle Characteristics and the Cost of the Corporate Average Fuel Economy Standard
复制标题
新车特性和企业平均燃油经济性标准的成本
DOI：
10.2139/ssrn.1310761
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发表时间：
2008
期刊：
影响因子：
--
通讯作者：
Joshua Linn
中科院分区：
文献类型：
--
作者：
T. Klier;Joshua Linn
最近的立法将企业平均燃油经济性（CAFE）标准提高了40%，这是该标准自1975年制定以来首次大幅提高。之前对CAFE标准的分析侧重于短期效应，即车辆特性保持不变，或长期效应，即企业可以采用新的动力总成技术。本文的重点是中期运行，当企业可以选择的特征，如重量和功率，并有有限的能力采用发动机技术。我们首先记录了中期运行的历史重要性，然后估计消费者愿意为燃油效率、功率和重量买单。我们采用了一种独特的经验策略，通过使用车辆模型中使用的发动机模型集的变化来解释特征的内生性，这在文献中尚未得到解决。研究结果表明，动力的增加对汽车销量的影响与燃油效率的比例提高是相等的。然后，我们模拟提高CAFE标准的中期运行效果。该政策降低了生产者和消费者的福利，并导致企业之间的大量转移，但其影响明显小于以往的研究。
Recent legislation has increased the Corporate Average Fuel Economy (CAFE) standard by 40 percent, which represents the first major increase in the standard since its creation in 1975. Previous analysis of the CAFE standard has focused on the short run effects, in which vehicle characteristics are held fixed, or the long run, when firms can adopt new powertrain technology. This paper focuses on the medium run, when firms can choose characteristics such as weight and power, and have a limited ability to adopt engine technology. We first document the historical importance of the medium run and then estimate consumers’ willingness-to-pay for fuel efficiency, power and weight. We employ a unique empirical strategy that accounts for the characteristics’ endogeneity, which has not been addressed in the literature, by using variation in the set of engine models used in vehicle models. The results imply that an increase in power has an equal effect on vehicle sales as a proportional increase in fuel efficiency. We then simulate the medium run effects of an increase in the CAFE standard. The policy reduces producer and consumer welfare and causes substantial transfers across firms, but the effects are significantly smaller than in previous studies.
影响因子：
6.1
作者：
BERRY, S;LEVINSOHN, J;PAKES, A
通讯作者：
PAKES, A