International Society of Science and Applied Technologies |
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Equilibrium Analysis of Automobile Market under the Subsidy Recession and Dual Credits Policy | ||||
Author | Chang Liu
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Co-Author(s) | Qing-yuan Zhu
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Abstract | Under the combined effect of the subsidy recession and the dual credits policy, this paper firstly, considers how to maximum demand and emission reduction R&D of fuel vehicles, and then analyzes the impact of policies on carbon emission. The study found that: 1) The impact of the credit transaction price on the optimal emission reduction R&D investment is non-linear. When the decline of subsidy is large, the government should set a lower transaction price of credits to incentive R&D investment in emission reduction; 2) The target value of fuel consumption has a non-linear impact on the optimal emission reduction R&D investment and the optimal demand. When the decline of subsidy is large, the government should set a higher target value to increase the demand of new energy vehicles; 3) The dual credits policy will decrease the carbon emission when the subsidy declines. The results of the numerical simulation verify the model and theoretical analysis.
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Keywords | new energy vehicles, subsidy recession, dual credits policy, emission reduction R&D | |||
Article #: DSBFI23-93 |
January 8-10, 2023 - Da Nang, Vietnam |