Energy Economics & Finance Seminar
If you are interested in attending, please contact:
Arthur van Benthem (email@example.com)
- Chris SeverenEconomistFederal Reserve Bank of Philadelphia
This seminar series in Energy Economics & Finance (EEF) is organized by Arthur van Benthem and hosted by the Kleinman Center.
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 Wednesdays (see dates below) from 4:00 p.m. – 5:00 p.m in the Kleinman Center classroom—Fisher Fine Arts Room 306.
Beer, wine, and snacks are served! View and connect to a Google seminar calendar.
ABSTRACT: We show that an individual’s initial experience with the price of a common activity, driving, shapes their behavior for decades into the future. We first use an event study to show that the 1979 oil crisis had a persistent negative effect on the likelihood that individuals that came of driving age during this time drive to work in the year 2000 (i.e., in their mid 30s). The effect is stronger for those with lower incomes and those in cities. We then turn to panel analysis that exploits variation in state gasoline prices to show that large increases in gasoline prices between the ages of 16 and 18 significantly reduce both (i) the likelihood of driving a private automobile to work and (ii) total annual vehicle miles traveled later in life. This effect does not appear to be due to increased costs from delayed driving skill acquisition, and instead seems to reflect the formation of preferences for driving or expectations of the perceived costs of driving.
Spring 2019 Schedule
2/20: Louis Preonas (EPIC/Maryland ARE)
3/20: Mathias Reynaert (Toulouse [Visiting MIT CEEPR])
4/3: Chris Severen (Philadelphia Fed)
4/17: Tatyana Deryugina (Illinois)
5/1: Gabrielle Vasey (Penn Econ)