POSTPONED: Energy Economics & Finance Seminar
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- Juan-Pablo MonteroProfessor of EconomicsPUC-Chile
Talk Title: "A practical approach for curbing congestion and local air pollution: Driving restrictions with toll and vintage exemptions"
ABSTRACT: Authorities rarely turn to pricing schemes, such as congestion charges and pollution-based registration fees, to persuade drivers to give up their cars in favor of public transport or to switch to cleaner ones. Instead, they increasingly rely on schemes that face less public resistance, such as driving restrictions or license-plate bans, notwithstanding the literature has shown they typically result in more congestion and pollution by encouraging the purchase of additional, older, and more polluting vehicles. With the help of a transport model calibrated to capture Santiago's current congestion and pollution reality, we advance a restriction proposal that prevents the purchase of additional vehicles while leaving consumers of all income groups better off: driving restrictions with toll and vintage exemptions, where the toll collection is spent in public-transport fare reductions and quality improvements. A driver of a restricted car has always the option to pay a toll (daily pass) to have it exempted, but as long as the car's pollution level is below a certain threshold. Under the more ambitious format ---five days restriction, 14 dollars toll, and 2000 and 2005 vintage thresholds for petrol and diesel, respectively--- per-year net benefits from lighter traffic and cleaner air amount to 1200 million dollars (almost 0.5% of the country's GDP).
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.
Fall 2019 Schedule
9/25: Alejandro Molnar (Vanderbilt/World Bank)
10/9: Juan-Pablo Montero (PUC-Chile)
10/23: Matthew Kahn (Johns Hopkins)
11/6: Suzi Kerr (EDF)
11/19: Ben Keys (Wharton Real Estate)
12/4: Ian Appel (Boston College)
12/11: Namrata Kala (MIT Sloan)