WELFARE ANALYSIS OF THE VEHICLE QUOTA SYSTEM IN CHINA

Xiao, J; Zhou, X; Hu, WM

WELFARE ANALYSIS OF THE VEHICLE QUOTA SYSTEM IN CHINA

Xiao, J

Zhou, X Hu, WM

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Publication Type:: Journal Article
Citation:: International Economic Review, 2017, 58 (2), pp. 617 - 650
Issue Date:: 2017-05-01

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Field	Value	Language
dc.contributor.author	Xiao, J https://orcid.org/0000-0003-3979-9828	en_US
dc.contributor.author	Zhou, X	en_US
dc.contributor.author	Hu, WM	en_US
dc.date.issued	2017-05-01	en_US
dc.identifier.citation	International Economic Review, 2017, 58 (2), pp. 617 - 650	en_US
dc.identifier.issn	0020-6598	en_US
dc.identifier.uri	http://hdl.handle.net/10453/125439
dc.description.abstract	© (2017) by the Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association This article presents a welfare analysis of the vehicle quota system of Shanghai, China. The empirical findings suggest that the quota system leads to both welfare loss as a result of reduction in vehicle transactions and welfare gain because of less externality of auto consumption. The net effect depends on the shadow price of the marginal externality, the assumption of vehicle lifetime, and market conditions such as consumers' intrinsic preference for vehicles. Compared to a progressive tax system, the quota system is less effective in vehicle control but more efficient in improving social welfare.	en_US
dc.relation.ispartof	International Economic Review	en_US
dc.relation.isbasedon	10.1111/iere.12229	en_US
dc.subject.classification	Economics	en_US
dc.title	WELFARE ANALYSIS OF THE VEHICLE QUOTA SYSTEM IN CHINA	en_US
dc.type	Journal Article
utslib.citation.volume	2	en_US
utslib.citation.volume	58	en_US
utslib.for	1401 Economic Theory	en_US
utslib.for	14 Economics	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Economics Discipline
utslib.copyright.status	closed_access
pubs.issue	2	en_US
pubs.publication-status	Published	en_US
pubs.volume	58	en_US

Abstract:

© (2017) by the Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association This article presents a welfare analysis of the vehicle quota system of Shanghai, China. The empirical findings suggest that the quota system leads to both welfare loss as a result of reduction in vehicle transactions and welfare gain because of less externality of auto consumption. The net effect depends on the shadow price of the marginal externality, the assumption of vehicle lifetime, and market conditions such as consumers' intrinsic preference for vehicles. Compared to a progressive tax system, the quota system is less effective in vehicle control but more efficient in improving social welfare.

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http://hdl.handle.net/10453/125439