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Title: The Economics Of Gasoline Regulation: Price Impacts And Consumer Costs Of Environmental Air Quality Programs
Authors: Gadsden, Michael
Keywords: Clean Air Act
Issue Date: 31-Aug-2011
Abstract: This research examines economic impacts of two gasoline regulations designed to combat tropospheric ozone pollution. I construct several fixed effects econometric models to assess impacts of reformulated gasoline and low volatility gasoline on retail gasoline prices and consumer costs. I estimate that reformulated gasoline has had a positive and statistically significant impact on real fuel prices of approximately 3.4 to 6.0 cents per gallon. I estimate that federal low volatility gasoline has had an insignificant price impact of 0.0 to 0.8 cents per gallon, but find that state-level controls more stringent than federal standards may have increased prices by over 8.0 cents per gallon. I also find that both reformulated gasoline and low volatility gasoline price effects likely vary substantially between cities. I present a framework for examining changes in welfare and estimate that over 15 years the reformulated gasoline program has cost consumers between $15.1 billion and $39.0 billion.
Committee Chair: Bento, Antonio Miguel R.
Committee Member: Boisvert, Richard N
Discipline: Agricultural Economics
Degree Name: M.S. of Agricultural Economics
Degree Level: Master of Science
Degree Grantor: Cornell University
Appears in Collections:Cornell Theses and Dissertations

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