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日時 2023/7/12 (水) 10:45~12:15
阿部達也 (Tatsuya Abe) (Waseda University)
論題 "Welfare Effects of Fuel Tax and Feebate Policies in the Japanese New Car Market"
要旨 This paper examines the efficiency and distributional effects of fuel tax and feebate policies in the automobile market by using a model in which households simultaneously make discrete and continuous decisions about car ownership and use. I estimate the model parameters by combining household-level survey data and product-level aggregate data on the Japanese new car market from 2006 to 2013. During the sample period, the Japanese feebate scheme experienced several changes in the eligibility requirement, which created rich variations in prices across vehicles and over time. I employ such exogenous variations to address the vehicle price endogeneity associated with demand estimation. Counterfactual analyses show that the Japanese feebate significantly increases social welfare by mitigating distortion in the oligopolistic market, however, it fails to control environmental externalities. In particular, the rebound effect induced by the feebate cancels out approximately 7% of the reduction in CO2 emissions that would have been achieved by the fuel economy improvement. In addition, I find that a fuel tax is less costly and less regressive than a product tax, an alternative feebate scheme considered in the counterfactuals, in reducing negative environmental externalities by the same amount. This finding suggests that replacing existing automobile-related taxes, such as the weight tax, with a fuel tax would improve social welfare without increasing the tax burden on low-income households in Japan.
幹事 横尾英史 [経済学研究科]