Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/70496 
Year of Publication: 
2011
Series/Report no.: 
Working Paper No. 2011-01
Publisher: 
Federal Reserve Bank of Chicago, Chicago, IL
Abstract: 
This paper presents an overview of the economics literature on the effect of Corporate Average Fuel Economy (CAFE) standards on the new vehicle market. Since 1978, CAFE has imposed fuel economy standards for cars and light trucks sold in the U.S. market. This paper reviews the history of the standards, followed by a discussion of the major upcoming changes in implementation and stringency. It describes strategies that firms can use to meet the standards and reviews the CAFE literature as it applies to the new vehicle market. The paper concludes by highlighting areas for future research in light of the upcoming changes to CAFE.
Subjects: 
CAFE
costs
structural estimation
Document Type: 
Working Paper

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