場所：Online Seminar in Zoom
タイトル：Climate Mitigation and Spatial Distribution of Automobile Demand: The Role of Income, Public Transit, and Portfolio Considerations (jointly with Yoshifumi Konishi and Shunsuke Managi)
要旨：We empirically characterize how automobile demand varies over geographic space and how it affects the economic consequences of climate mitigation policies. We augment a discrete-continuous choice model in ways that account for geographic distribution of incomes, public transit, and portfolio preferences, and show that our model outperforms a naive random-coefficient model in explaining demand stickiness over geographic space. In particular, the model allows us to resolve two empirical puzzles in Japan: Overall price elasticity of demand for vehicle ownership increases with vehicle size; invariance of demand for hybrid vehicles with respect to public transit density. We also use the estimated model to demonstrate the economic significance of this spatial demand heterogeneity: Eco-car sharing outperforms feebates but underperforms carbon tax; The policy impact declines with a decrease in transit density more than the conventional model predicts; The naive model overstates the impact in rural areas wheareas understating it in urban areas.