An Economic Analysis of Scrappage
This article examines the impact of policies aimed at encouraging the retirement of older, high-polluting vehicles, such as the "cash for clunkers" policy endorsed by President George Bush in 1992. The analysis assesses the likely benefits and costs of vehicle scrappage programs. I also address the interaction of a scrappage program with other ongoing policies, such as improved inspection and maintenance. Finally, the simulation for Los Angeles suggests plausible design values for a scrappage program.
Volume (Year): 26 (1995)
Issue (Month): 2 (Summer)
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