Equilibrium Trade in Automobiles

Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt

Standard

Equilibrium Trade in Automobiles. / Gillingham, Kenneth; Iskhakov, Fedor; Munk-Nielsen, Anders; Rust, John; Schjerning, Bertel.

I: Journal of Political Economy, Bind 130, Nr. 10, 2022, s. 2534-2593.

Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt

Harvard

Gillingham, K, Iskhakov, F, Munk-Nielsen, A, Rust, J & Schjerning, B 2022, 'Equilibrium Trade in Automobiles', Journal of Political Economy, bind 130, nr. 10, s. 2534-2593. https://doi.org/10.1086/720463

APA

Gillingham, K., Iskhakov, F., Munk-Nielsen, A., Rust, J., & Schjerning, B. (2022). Equilibrium Trade in Automobiles. Journal of Political Economy, 130(10), 2534-2593. https://doi.org/10.1086/720463

Vancouver

Gillingham K, Iskhakov F, Munk-Nielsen A, Rust J, Schjerning B. Equilibrium Trade in Automobiles. Journal of Political Economy. 2022;130(10):2534-2593. https://doi.org/10.1086/720463

Author

Gillingham, Kenneth ; Iskhakov, Fedor ; Munk-Nielsen, Anders ; Rust, John ; Schjerning, Bertel. / Equilibrium Trade in Automobiles. I: Journal of Political Economy. 2022 ; Bind 130, Nr. 10. s. 2534-2593.

Bibtex

@article{5cfacd941e85432bb72fc9a6279f3801,

title = "Equilibrium Trade in Automobiles",

abstract = "We introduce a computationally tractable dynamic equilibrium model of automobile markets with heterogeneous consumers, focused on stationary flow equilibria. We introduce a fast, robust algorithm for computing equilibria and use it to estimate a model using nearly 39 million observations on car ownership transitions from Denmark. The estimated model fits the data well, and counterfactual simulations show that Denmark could raise total tax revenue by reducing the new-car registration tax rate. We show that reducing this tax rate while raising the tax rate on fuel increases aggregate welfare, tax revenue, and car ownership, while reducing car ages, driving, and CO2 emissions.",

author = "Kenneth Gillingham and Fedor Iskhakov and Anders Munk-Nielsen and John Rust and Bertel Schjerning",

year = "2022",

doi = "10.1086/720463",

language = "English",

volume = "130",

pages = "2534--2593",

journal = "Journal of Political Economy",

issn = "0022-3808",

publisher = "University of Chicago Press",

number = "10",

}

RIS

TY - JOUR

T1 - Equilibrium Trade in Automobiles

AU - Gillingham, Kenneth

AU - Iskhakov, Fedor

AU - Munk-Nielsen, Anders

AU - Rust, John

AU - Schjerning, Bertel

PY - 2022

Y1 - 2022

N2 - We introduce a computationally tractable dynamic equilibrium model of automobile markets with heterogeneous consumers, focused on stationary flow equilibria. We introduce a fast, robust algorithm for computing equilibria and use it to estimate a model using nearly 39 million observations on car ownership transitions from Denmark. The estimated model fits the data well, and counterfactual simulations show that Denmark could raise total tax revenue by reducing the new-car registration tax rate. We show that reducing this tax rate while raising the tax rate on fuel increases aggregate welfare, tax revenue, and car ownership, while reducing car ages, driving, and CO2 emissions.

AB - We introduce a computationally tractable dynamic equilibrium model of automobile markets with heterogeneous consumers, focused on stationary flow equilibria. We introduce a fast, robust algorithm for computing equilibria and use it to estimate a model using nearly 39 million observations on car ownership transitions from Denmark. The estimated model fits the data well, and counterfactual simulations show that Denmark could raise total tax revenue by reducing the new-car registration tax rate. We show that reducing this tax rate while raising the tax rate on fuel increases aggregate welfare, tax revenue, and car ownership, while reducing car ages, driving, and CO2 emissions.

U2 - 10.1086/720463

DO - 10.1086/720463

M3 - Journal article

AN - SCOPUS:85133969063

VL - 130

SP - 2534

EP - 2593

JO - Journal of Political Economy

JF - Journal of Political Economy

SN - 0022-3808

IS - 10

ER -

ID: 336457812

Økonomisk Institut