讲座主题 Government Subsidies and Product Choices: Evidence from China's Electric Vehicle Market
讲座嘉宾: 李善军教授 美国康奈尔大学
腾讯会议：会议ID/163 646 082 会议密码/249351
李善军，本科毕业于南开大学国际经济系，2007年在美国杜克大学取得经济学博士学位。现为康奈尔大学达森应用经济学与管理学院肯尼斯·罗宾逊终身职讲席教授，康奈尔大学中国经济研究所主任和美国国民经济研究局研究员。研究领域包括环境与能源经济学，产业组织和中国经济问题，担任环境与资源经济学领域国际顶级期刊Journal of The Association of Environmental and Resource Economists 的共同主编。
Government subsidies are commonly used to promote the development and adoption of energy- saving or environmentally friendly technologies across the world. The effectiveness of the subsidies critically hinge on consumer behavior and firm incentives. This study examines the impacts of purchase subsidies on consumer demand and firm choices in China’s electric vehicle (EV) market, by far the largest EV market in the world. A key feature of the policy is that the amount of subsidy for an EV depends on vehicle driving range. Using detailed model-level quarterly sales data by city during 2013-2018, we develop and estimate an equilibrium model of consumer demand and firm choices with endogenous product attributes. Our analysis shows that the policy led to product bunching at the driving range cutoffs for different levels of subsides. The policy induced EV producers to downsize their vehicles in order to increase the driving range. An alternative subsidy structure that ties the subsidy to battery capacity would be more effective and efficient by reducing the distortion in the product space and resulting welfare losses. Our findings highlight the importance of understanding consumer and firm behavior in designing effective subsidy policies.