Download or read book The Consumer Response to Gasoline Price Changes written by Kenneth Thomas Gillingham and published by Stanford University. This book was released on 2011 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Distributional Implications of the Impact of Fuel Price Increases on Inflation written by Mr. Kangni R Kpodar and published by International Monetary Fund. This book was released on 2021-11-12 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Gasoline price changes the dynamic of supply demand and competition written by and published by DIANE Publishing. This book was released on 2005 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Reformulated Gasoline RFG written by United States. Congress. House. Committee on Science. Subcommittee on Energy and Environment and published by . This book was released on 2000 with total page 936 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book National Gas Survey written by United States. Federal Energy Regulatory Commission. Technical Advisory Committee on Finance and published by . This book was released on with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Annual Energy Outlook 2000 With Projections to 2020 written by and published by DIANE Publishing. This book was released on with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Methanol Fuel Modification for Highway Vehicle Use written by J. L. Keller and published by . This book was released on 1978 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Federal Register written by and published by . This book was released on 1978-08 with total page 1870 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Modern Developments in Gas Dynamics written by W. H. Loh and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the last decade, the rapid growth of knowledge in the field of fluid mechanics and heat transfer has resulted in many significant ad vances of interest to students, engineers, and scientists. Accordingly, a course entitled "Modern Developments in Fluid Mechanics and Heat Transfer" was given at the University of California to present significant recent theoretical and experimental work. The course consisted of seven parts: I-Introduction; II-Hydraulic Analogy for Gas Dynamics; 111- Turbulence and Unsteady Gas Dynamics; IV-Rarefied and Radiation Gas Dynamics; V-Biological Fluid Mechanics; VI-Hypersonic and Plasma Gas Dynamics; and VII-Heat Transfer in Hypersonic Flows. The material, presented by the undersigned as course instructor and by various guest lecturers, could easily be adapted by other universities for use as a text for a one-semester senior or graduate course on the subject. Due to the extensive notes developed during the University of California course, it was decided to publish the material in three volumes, of which the present is the first. The succeeding volumes will be entitled "Selected Topics in Fluid and Bio-Fluid Mechanics" and "Introduction to Steady and Unsteady Gas Dynamics." Finally, I must express a word of appreciation to my wife Irene and to my children, Wellington Jr. and Victoria, who made it possible for me to write and edit this book in the very quiet atmosphere of our home.
Download or read book Producer Price Indexes written by and published by . This book was released on 1996 with total page 652 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Quarterly Report U S Office of Price Administration written by United States. Office of Price Administration and published by . This book was released on 1945 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book 20 Per Gallon written by Christopher Steiner and published by Grand Central Publishing. This book was released on 2009-07-15 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: An extraordinarily insightful and thought-provoking look at how our society and culture are going to change, and change rapidly, as the price of gasoline, heating oil, and all other everyday consumer products that are derived from oil continue to escalate. Imagine an everyday world in which the price of gasoline (and oil) continues to go up, and up, and up. Think about the immediate impact that would have on our lives. Of course, everybody already knows how about gasoline has affected our driving habits. People can't wait to junk their gas-guzzling SUVs for a new Prius. But there are more, not-so-obvious changes on the horizon that Chris Steiner tracks brilliantly in this provocative work. Consider the following societal changes: people who own homes in far-off suburbs will soon realize that there's no longer any market for their houses (reason: nobody wants to live too far away because it's too expensive to commute to work). Telecommuting will begin to expand rapidly. Trains will become the mode of national transportation (as it used to be) as the price of flying becomes prohibitive. Families will begin to migrate southward as the price of heating northern homes in the winter is too pricey. Cheap everyday items that are comprised of plastic will go away because of the rising price to produce them (plastic is derived from oil). And this is just the beginning of a huge and overwhelming domino effect that our way of life will undergo in the years to come. Steiner, an engineer by training before turning to journalism, sees how this simple but constant rise in oil and gas prices will totally re-structure our lifestyle. But what may be surprising to readers is that all of these changes may not be negative - but actually will usher in some new and very promising aspects of our society. Steiner will probe how the liberation of technology and innovation, triggered by climbing gas prices, will change our lives. The book may start as an alarmist's exercise.... but don't be misled. The future will be exhilarating.
Download or read book PPI Detailed Report written by and published by . This book was released on 2000 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book National Petroleum News written by and published by . This book was released on 1926 with total page 1252 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book MEGA Study Guide for NTSE SAT MAT LCT Class 10 Stage 1 2 11th Edition written by Disha Experts and published by Disha Publications. This book was released on 2019-03-12 with total page 1029 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new 11th edition of MEGA Study Guide for NTSE Class 10 is empowered with the inclusion of 2018 Stage I questions of the different states. The book is based on the yllabus of Class 8, 9 & 10 as prescribed by NCERT. The book also comprises of Past questions of NTSE Stage 1 & 2 from the years 2012-2018. • There are now 28 chapters in the Mental Ability Section (MAT). • The Scholastic Aptitude section (SAT) has been divided into 9 parts – Physics, Chemistry, Biology, Mathematics, English, History, Geography, Civics and Economics. • The book provides past questions of last 10 years of NTSE Stage 1 & 2, JSTSE papers divided chapter-wise. • The book provides sufficient pointwise theory, solved examples followed by Fully Solved exercises in 2 levels - State/ UT level & National level. • Maps, Diagrams and Tables to stimulate the thinking ability of the student. • The book covers new variety of questions - Passage Based, Assertion-Reason, Matching, Definition based, Statement based, Feature Based, Diagram Based and Integer Answer Questions.
Download or read book Gas Age written by and published by . This book was released on 1927 with total page 618 pages. Available in PDF, EPUB and Kindle. Book excerpt: Includes summaries of proceedings and addresses of annual meetings of various gas associations. L.C. set includes an index to these proceedings, 1884-1902, issued as a supplement to Progressive age, Feb. 15, 1910.
Download or read book Annual Reports of the Various City Officers of the City of Minneapolis Minnesota written by Minneapolis (Minn.) and published by . This book was released on 1898 with total page 830 pages. Available in PDF, EPUB and Kindle. Book excerpt:
