Disentangling sources of vehicle emissions reduction in France: 2003–2008 |
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| Institution: | 1. CREST (LMI), 15 Boulevard Gabriel Péri, 92245 Malakoff, France;2. University of Mannheim, L7, 3-5 68131 Mannheim, Germany;3. CREST (LEI), 15 Boulevard Gabriel Péri, 92245 Malakoff, France;1. Shanghai University of Finance and Economics, School of Economics, Guoding Road 777, Shanghai 200433, China;2. Korea University, Department of Economics, Sungbuk-gu Anam-ro 145, Seoul 136-701, Republic of Korea;3. Institute of Economic Theory I, Humboldt University at Berlin, Spandauer Str. 1, 10178 Berlin, Germany;1. University of North Carolina, Department of Economics, Chapel Hill, NC 27599-3305, United States;2. Toulouse School of Economics, 21 allée de Brienne, 31015 Toulouse, Cedex 6, France;3. European Commission, DG Competition, Place Madou 1, 1210 Saint-Josse-ten-Noode, Belgium |
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| Abstract: | 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. |
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