The Economics of Gasoline Regulation PDF Download
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Author: Michael Henry Gadsden
Publisher:
ISBN:
Category :
Languages : en
Pages : 122
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Book Description
This research examines economic impacts of two gasoline regulations designed to combat tropospheric ozone pollution. I construct several fixed effects econometric models to assess impacts of reformulated gasoline and low volatility gasoline on retail gasoline prices and consumer costs. I estimate that reformulated gasoline has had a positive and statistically significant impact on real fuel prices of approximately 3.4 to 6.0 cents per gallon. I estimate that federal low volatility gasoline has had an insignificant price impact of 0.0 to 0.8 cents per gallon, but find that state-level controls more stringent than federal standards may have increased prices by over 8.0 cents per gallon. I also find that both reformulated gasoline and low volatility gasoline price effects likely vary substantially between cities. I present a framework for examining changes in welfare and estimate that over 15 years the reformulated gasoline program has cost consumers between $15.1 billion and $39.0 billion.
Author: Michael Henry Gadsden
Publisher:
ISBN:
Category :
Languages : en
Pages : 122
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Book Description
This research examines economic impacts of two gasoline regulations designed to combat tropospheric ozone pollution. I construct several fixed effects econometric models to assess impacts of reformulated gasoline and low volatility gasoline on retail gasoline prices and consumer costs. I estimate that reformulated gasoline has had a positive and statistically significant impact on real fuel prices of approximately 3.4 to 6.0 cents per gallon. I estimate that federal low volatility gasoline has had an insignificant price impact of 0.0 to 0.8 cents per gallon, but find that state-level controls more stringent than federal standards may have increased prices by over 8.0 cents per gallon. I also find that both reformulated gasoline and low volatility gasoline price effects likely vary substantially between cities. I present a framework for examining changes in welfare and estimate that over 15 years the reformulated gasoline program has cost consumers between $15.1 billion and $39.0 billion.
Author: United States. Congress. House. Committee on Government Reform. Subcommittee on National Economic Growth, Natural Resources, and Regulatory Affairs
Publisher:
ISBN:
Category : Science
Languages : en
Pages : 116
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Book Description
Author: Mr. Kangni R Kpodar
Publisher: International Monetary Fund
ISBN: 1616356154
Category : Business & Economics
Languages : en
Pages : 34
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Book Description
This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.
Author: United States. Department of Energy. Office of Regulations and Emergency Planning
Publisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 304
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Book Description
Author: Michael A. Crew
Publisher: Springer
ISBN: 1349072958
Category : Social Science
Languages : en
Pages : 306
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Book Description
Author: Joseph P. Kalt
Publisher: Cambridge, Mass. : MIT Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 360
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Book Description
Author: United States. Department of Energy. Office of Regulations and Emergency Planning
Publisher:
ISBN:
Category : Automobiles
Languages : en
Pages : 40
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Book Description
Author: ARC Applied Research Consultants
Publisher:
ISBN:
Category : Environmental monitoring
Languages : en
Pages :
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Book Description
Author: Alex Maurizi
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 92
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Book Description
Author: Koichiro Ito
Publisher:
ISBN:
Category : Automobile industry and trade
Languages : en
Pages : 64
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Book Description
This paper analyzes "attribute-based regulations," in which regulatory compliance depends upon some secondary attribute that is not the intended target of the regulation. For example, in many countries fuel-economy standards mandate that vehicles have a certain fuel economy, but heavier or larger vehicles are allowed to meet a lower standard. Such policies create perverse incentives to distort the attribute upon which compliance depends. We develop a theoretical framework to predict how actors will respond to attribute-based regulations and to characterize the welfare implications of these responses. To test our theoretical predictions, we exploit quasi-experimental variation in Japanese fuel economy regulations, under which fuel-economy targets are downward-sloping step functions of vehicle weight. Our bunching analysis reveals large distortions to vehicle weight induced by the policy. We then leverage panel data on vehicle redesigns to empirically investigate the welfare implications of attribute-basing, including both potential benefits and likely costs. This latter analysis concerns a "double notched" policy; vehicles are eligible for an incentive if they are above a step function in the two-dimensional fuel economy by weight space. We develop a procedure for analyzing the response to such policies that is new to the literature.
