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Seminarreihe des Arbeitsbereichs Ökonomie am IOS

Zeit: Dienstag, 13.30–15.00 Uhr
Ort: Leibniz-Institut für Ost-und Südosteuropaforschung (IOS), Landshuter Str. 4 (Raum 109)
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19. Juni 2018

Replacement Subsidies for Energy Efficient Appliances: Consumer Responses in Time and Product-Space

Ein Vortrag von Boryana Madzharova (Friedrich-Alexander Universität Erlangen-Nürnberg) im Rahmen der Seminarreihe des AB Ökonomie am IOS.
Datum: 19. Juni 2018
Zeit: 13.30 Uhr
Ort: Leibniz-Institut für Ost-und Südosteuropaforschung (IOS), Landshuter Str. 4 (Raum 109)

This paper evaluates the effects of subsidies for energy efficient appliances on the development of sales and prices over time of subsidized products and their non-subsidized substitutes. The identification strategy exploits the trading of identical products in multiple countries: counterfactuals for sales of a product in a country before during and after a program are constructed from the contemporaneous sales of exactly the same product in the other countries. Our findings suggest that replacement programs with subsidies for energy efficient products exert strong positive sales effects, which are mainly driven by intertemporal substitution with consumers bringing purchases forward. In some cases, we also find pre-program effects pointing to consumers postponing purchases to take advantage of the subsidy. While all countries have repeated their programs, our results indicate that the repeated program tends to be less effective in stimulating purchases and exert even stronger intertemporal substitution effects. Preliminary tests for substitution effects do not indicate significant adverse effects on non-subsidized products.