Energy Economics and Finance Seminar
Speaker
Location
Kleinman Center Classroom
Fisher Fine Arts Building, Room 306
Getting Here
Event Summary
The seminar series in Energy Economics & Finance (EEF) is jointly organized by Wharton’s Business Economics and Public Policy Department, the Kleinman Center for Energy Policy, and Wharton’s Business, Climate and Environment Lab. The scope of the seminar includes regulation and policy papers. The scope of the seminar also includes environmental and transportation issues, as long as there is a connection with energy. Sessions are biweekly on Mondays from 3:30 p.m. – 4:30 p.m.
Snacks, beer, and wine will be served after the seminar!
For Fall 2023, the seminar will be held in-person in the Kleinman Center Classroom (Fisher Fine Arts Building Room 306). We have a strong preference for in-person seminar attendance***, but if you are unable to make a certain session or are not based on Penn’s campus, please reach out to Dhivya Kaushik (email below) to get access to the Zoom link.
Find and add a Google Calendar version of the schedule on the BEPP seminar page.
To sign up for the seminar, please send your name, email, and affiliation to Dhivya Kaushik: dhivya@wharton.upenn.edu
Talk Title: Regulatory Stringency and Innovation in the Car Industry
Abstract: Fuel economy standards are one primary tool to reduce fossil fuel consumption by road passenger transport, which is present in all major car markets. The stringency of fuel economy standards is correlated across countries, endogenous due to a powerful lobby of car manufacturers, and changes are anticipated years ahead of their implementation. In this project, I will leverage exogenous variation in the stringency of the European CO2 emission standards for cars to provide causal evidence for the effect on innovation for electric vehicle technologies. Exogenous variation is introduced by a substantial decrease in the market share of diesel vehicles in response to the2015 Volkswagen Diesel Scandal, which led to a temporal increase in fleet-average CO2 emissions in Europe. Linking patient data with a novel data set on manufacturer-supplier relationships, I study how an increase in the stringency of environmental regulation in the car market spills over to suppliers of the affected manufacturers. As a preliminary result, I find that an increase in the stringency of the standard reduces patenting for electric and hybrid-electric vehicle technologies over the next four years.
Johannes Gessner
Fall Seminar Dates:
- 9/25: Brigitte Roth Tran, Federal Reserve Bank of San Francisco
- 10/16: Johannes Gessner, University of Pennsylvania
- 10/23: Zack Miller, University of Missouri
- 11/6: Thom Covert, University of Chicago
- 12/4: Belinda Archibong, Columbia University