New Car Sales and Used Car Stocks: A Model of the Automobile Market
AbstractThis article develops a short-run general equilibrium model of the automobile market by combining a discrete choice model of consumer automobile demand with simple models of new automobile production and used vehicle scrappage. The theoretical model allows an unlimited degree of heterogeneity of both consumers and automobiles, with equilibrium defined as aggregate demand equal to supply for every vehicle type. Econometric estimates of the scrappage and demand functions are then used to create a simulation model of the automobile market, which is used to provide forecasts of automobile sales, stocks, and scrappage for the 1978-1990 period.
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Bibliographic InfoArticle provided by The RAND Corporation in its journal RAND Journal of Economics.
Volume (Year): 16 (1985)
Issue (Month): 2 (Summer)
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Web page: http://www.rje.org
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- Alan Greenspan & Darrel Cohen, 1999.
"Motor Vehicle Stocks, Scrappage, And Sales,"
The Review of Economics and Statistics,
MIT Press, vol. 81(3), pages 369-383, August.
- Lawrence H Goulder & Roger H. Von Haefen & Mark R Jacobsen & Antonio M Bento & Emeric Henry, 2005.
"Distributional and Efficiency Impacts of Gasoline Taxes: An Econometrically Based Multi-market Study,"
Sciences Po publications
info:hdl:2441/10084, Sciences Po.
- Antonio M. Bento & Lawrence H. Goulder & Emeric Henry & Mark R. Jacobsen & Roger H. von Haefen, 2005. "Distributional and Efficiency Impacts of Gasoline Taxes: An Econometrically Based Multi-market Study," American Economic Review, American Economic Association, vol. 95(2), pages 282-287, May.
- Wayne Dunham, 2003. "Moral Hazard and the Market for Used Automobiles," Review of Industrial Organization, Springer, vol. 23(1), pages 65-83, August.
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