In September 2020, the city of Bogotá introduced a major market-based reform to its odd-even driving restriction, better known as Pico y Placa. Drivers now have the option to pay a daily fee to be exempted from the restriction. Despite the increase in traffic—a 9% drop in average speed—we find substantial welfare gains from the reform, US$222 million per year. An important fraction of these gains—31%—comes from simply “abolishing” the restriction, i.e., setting the exemption fee equal to zero; the rest from setting a strictly positive fee, US$9 per day. The big winners of the reform are middle-income individuals who now use their cars more often (their gains amount to US$759 million), whereas the big losers are high-income individuals who now spend more time in traffic (their losses amount to US$506 million).
Séminaire en présence d'Adam George (SOAS, University of London). Adam George présente un modèle macroéconomique SFC environnemental britannique intégrant émissions de CO2 et investissements verts de tous les agents économiques. Le modèle trimestriel analyse l'impact des politiques énergétiques selon le rapport capital vert/capital conventionnel. Quatre scénarios fiscaux verts sont testés (2022-2035) : taxe carbone, investissement...