27/2/2021
Online Seminar at March 5th：Sho Kuroda (University of Tsukuba)
Dear all,
Let me inform you of the following online research seminar.
Date: March 5, 2021
Time: 16:30-18:00
Venue:Online Seminar in Zoom
Organizer: Takuya Hasebe
Speaker: Sho Kuroda (University of Tsukuba)
Language: Japanese
Title: Climate Mitigation and Spatial Distribution of Automobile Demand: The Role of Income, Public Transit, and Portfolio Considerations (jointly with Yoshifumi Konishi and Shunsuke Managi)
Abstract: 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.