Article published in Transportation Research Part A: Policy and Practice
Congestion and local air pollution continue to be a serious problem in many cities around the world, partly because of an increasing and ageing car fleet. Unfortunately, the use of pricing schemes for handling these externalities, such as congestion and pollution charges, still face much resistance. To cope with it, Carlos F. Daganzo advanced an ingenious hybrid scheme that supposedly leaves everybody better off: driving restrictions with toll exemptions. We extend Daganzo’s idea to include vintage exemptions in an effort to also control for the pollution externality. We then test for its Pareto-improving property using Santiago as a case study. We find the latter not to hold in that low-income drivers are strictly worse off: the gain from faster car travel in days of no restriction is not enough to compensate the loss from switching to public transport in days of restriction. To make all individuals better off, all toll revenues ought to be recycled back into the public transport system, lowering its fares and improving its quality. If so, the most ambitious hybrid restriction format —a 5-day-a-week restriction with vintage thresholds during fall and winter— reports per-year net benefits of around 1.2 billion dollars (or 0.5% of the country’s GDP), 58% of which comes from lighter traffic and the remaining 42% from cleaner air.
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Il est probable, mais pas certain, que l’hydrogène joue un rôle significatif dans la décarbonation de la plupart des sociétés au cours des prochaines années, moyennant la levée de verrous, décrits dans
cette note. Nous pensons qu’il faudra amplifier la pédagogie autour de l’hydrogène afin que
les investisseurs, les financeurs de projets ou les...
In this paper, we examine how central banks and financial supervisors are approaching the topic of BRFR in relation to climate-related financial risk. We argue that policymakers should focus upon the broader concept of systemic environmental-financial risks to account for the interactions and trade-offs between both domains of biodiversity and climate change.
La régulation financière ne doit pas seulement verdir sous l’angle des risques financiers induits par le changement climatique ou la crise écologique, mais tout autant sous l’angle du problème que pose la finance au climat et à l’écologie. Dans son orientation actuelle, la finance contribue au réchauffement climatique, à la dégradation de la biodiversité,...