“经济学系列讲座”第十二期

题目：“经济学系列讲座”第十二期

The Welfare Analysis of the Corporate Average Fuel Consumption in the Chinese Passenger Vehicle Market

主讲人: 肖俊极香港中文大学决策科学与企业经济学系副教授

时间：2016年12月5日13:30-15:00

地点：天津大学25楼A座3层C教室

主持：张中祥

报告人简介：

Prof. Junji Xiao received his Ph.D. from University of Toronto. He is an economist with research interest in the fields of empirical industrial organization, environmental economics and China economy. His recent work has focused on the Chinese automobile industry and explored such topics as the competition structure, the welfare effect of environmental policies and the vertical restraints of this industry. Before joining CUHK Business School, Prof. Xiao taught at Fudan University and Shanghai University of Finance and Economics, respectively. He was awarded the German DFG Fellowship in 2001. His research work has been published or accepted for publication in such leading academic journals asReview of Economics and Statistics,International Economic Review, Journal of Economics & Strategy Management, Journal of Industrial Economics.

主讲内容简介：

China is by far the largest new vehicle market in the world and plays an increasingly important role in the world oil market. Major urban areas in China are experiencing the world's worst traffic congestion and air pollution. In order to push automakers to improve fuel economy technology and reduce fuel consumption and associated externalities, China adopted the Corporate Average Fuel Consumption (CAFC) standards in 2012, requiring the sales weighted average corporate fuel consumption (liters/100km) to be below a firm-specific target. This study offers the first welfare analysis on China's fuel economy regulation by developing and estimating an equilibrium model of automobile market consisting of demand and supply sides. The demand side features consumers with heterogeneous preferences and the supply side consists of multi-product firms that make pricing and vehicle attribute decisions along the technological frontier.