| Cristian Huse's research | ||
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| Working Papers | ||
| Common-Ownership
vs. Cross-Ownership: Evidence from the Automobile
Industry with Ricardo Ribeiro and Frank Verboven Overlapping ownership has gained considerable momentum in the last decades, yet little is known about the role of its sources. We quantify the relative importance of common-ownership, by shareholders external to an industry, and cross-ownership, by firms within the industry. We focus on the global automobile industry, over the period 2007-2021, and document that common-ownership links amount to 31-40%, while cross-ownership links amount to 5-9% of automobile manufacturers' stock. We show that not accounting for these relatively modest cross-ownership links has important implications: it underestimates the average weight assigned by managers to the profit of competitors by between 41-105%. -- paper Version: October 2023 |
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| Kill Two Birds
with One Stone? Environmental Policy Design with
Multiple Targets in the Swedish Car Market with Claudio Lucinda We perform an ex ante analysis of the effects of environmental policies on the attainment of EU-mandated targets of CO2 emissions and the renewable fuel standard. To do so, we estimate a structural model for the Swedish new vehicle market allowing for consumer heterogeneity and endogenous product characteristics to model the responses of carmakers. Policy simulations suggest that attaining the EU targets using only demand-based policy instruments such as a rebate is not feasible. Thus, policymakers need to implement additional instruments in order to incentivize the introduction of more fuel efficient models in the new vehicle market. |
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| Fast and Furious
(and Dirty): How Asymmetric Regulation May Hinder
Environmental Policy --Winner of the Public Utility Research Prize for the best paper in regulatory economics at the International Industrial Organization Conference (IIOC) -- under revision |
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| Quantifying The Effects of Natural
Hedging -- An Examination of US Production for BMW
and Porsche with Richard Friberg -- paper Version: July 2014 |
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| Estimating
the 'Coordinated Effects' of Mergers with Peter J. Davis -- paper Version: January 2010 |
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| Journal Publications | ||
| (2022): Salience
and Policy Instruments: Evidence from the Auto
Market with Nikita Koptyug JAERE -- Journal of the Association of Environmental and Resource Economist 9 (2): 345-382. We take advantage of a unique institutional setting which allows consumers to separately value the fuel tax and the vehicle tax (road tax). We estimate a consumer-level structural model of vehicle choice using revealed preference data and controlling for heterogeneity at the micro level. We find that consumers undervalue both policy instruments, but undervaluation of the latter is substantially more severe. We examine potential explanations and document that behavioral explanations, in particular salience of the policy instruments, lie at the root of our findings; for a number of the salient versions of vehicle tax and fuel costs we construct, we cannot reject the null hypothesis of their correct valuation. This also holds when using different measures of news and online search activity as proxies for salience. The results call for complementary policy instruments to restore market efficiency and for measures to make them more salient to consumers. -- paper |
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| (2021): Assessing
the Effects of a Large Temporary Energy
Savings Program: Evidence from a Developing
Country with Claudio Lucinda and Andre Ribeiro JEEM -- Journal of Environmental Economics and Management We examine the effects of a large temporary energy-savings program on the valuation of energy efficiency by Brazilian households, as well as its counterfactual energy savings. Using a representative sample of Brazilian households, we specify and estimate a structural model of appliance choice and document that (i) the program only increases the valuations of households facing incentives in the form of an energy consumption quota introduced by the program; (ii) the effect of incentives dominates other components of the energy efficiency gap; (iii) the effect of the program on valuations is temporary, with these essentially reverting to prior levels after the end of the program; (iv) heterogeneity in valuations is prevalent; (v) focusing only on the purchase of new refrigerators, the counterfactual en- ergy savings are non-trivial, being equivalent to the yearly electricity consumption of a city with 1.15 mn inhabitants. The findings suggest that short-lived reactions to temporary programs on the extensive margin are non-trivial and have log-run implications via the purchase of durables. -- paper |
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| (2020): Consumer
Response to Energy Label Policies: Evidence from the
Brazilian Energy Label Program
with Claudio Lucinda and André Ribeiro Energy Policy -- paper |
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| (2018): Fuel Choice and Fuel Demand
Elasticities in Markets with Flex-fuel Vehicles Nature Energy -- paper |
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| (2017):
Bailing Out on
the Car That Wasn't Bailed Out: Explaining Consumer
Reactions to Financial Distress with Nikita Koptyug Journal of Economics and Management Strategy 26, 337-374. -- paper |
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| (2014): The
Market Impact and the Cost of Environmental Policy:
Evidence from the Swedish "Green Car" Rebate with Claudio Lucinda Economic Journal 124, F393-419 (lead article) --Winner of the Haralambos Simeonidis Prize for the best paper published by a Brazilian economist in the previous 2 years -- paper |
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(2013): Build It, But Will They
Come? Evidence from Consumer Choice Between Gasoline
and Sugarcane Ethanol with Alberto Salvo Journal of Environmental Economics and Management 66, 251-279. -- paper slides |
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| (2012): Does Product
Differentiation Soften Price Reactions to Entry?
Evidence from the Airline Industry with Alessandro V. M. Oliveira Journal of Transport Economics and Policy 46 (2), 189-204. |
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(2011): Is Arbitrage Tying the
Price of Ethanol to that of Gasoline? Evidence
of the Uptake of Flexible-Fuel Technology with Alberto Salvo Energy Journal 32 (3), 119-148. -- paper online appendix |
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| (2011):
Term Structure Modelling with Observable State Variables Journal of Banking and Finance 35 (12) 3240-3252. |
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(2009): Localized competitive advantage
and price reactions to entry: Full-service vs. low-cost
airlines in recently liberalized emerging markets with Alessandro V. M. Oliveira Transportation Research E: Logistics and Transportation Review, Vol 45 (2), 307-320. |
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| (2007):
Investigating Business Traveller Heterogeneity:
Low-Cost vs Full-Service Airline Users ? with Fabio Evangelho Transportation Research E: Logistics and Transportation Review, Vol 43 (3), 259-268. |
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| (2005): Market
Entry of a Low-Cost Airline and Impacts on the
Brazilian Business Travellers with Fabio Evangelho and Alexandre Linhares Journal of Air Transport Management Volume 11 (2), 99-105. |
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| Book Chapters | ||
| (2023): Pricing
and Other Instruments for Climate Change Mitigation
in Private Transport with Henrik Andersson and Davide Cerruti In: Hoercher, Daniel, Alessandro Tirachini, and Erik Verhoef (eds.) Handbook on Transport Pricing and Financing, pp. 59-72, Edward Elgar Publishing Ltd. ISBN 978 1 80037 554 3 -- paper |
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| (2021): Policy
Instruments to Reduce Carbon Emissions for Road
Transport with Davide Cerruti In: Vickerman, Roger (eds.) International Encyclopedia of Transportation vol 1. pp. 514- 519, United Kingdom: Elsevier Ltd. -- paper |
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| (2006): Estimation
and Identification of Demand and Supply with Alberto Salvo, in Portuguese In: Quantitative Methods Applied to Antitrust and Regulation, edited by Eduardo P. S. Fiuza and Ronaldo Seroa da Motta (Instituto de Pesquisa Econômica Aplicada, IPEA). Brasília: SDE (Ministry of Justice), 2006. |
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(c) Cristian Huse 2008-2023