US

Electric Vehicles

Question A:

The current $7,500 tax credit for purchasing electric vehicles is regressive.

Responses weighted by each expert's confidence

Question B:

To encourage greater take-up of electric vehicles, public expenditure on infrastructure to support them (such as charging stations) is likely to be more cost-effective than providing equivalent amounts as tax credits/purchase rebates for buyers.

Responses weighted by each expert's confidence

Question A Participant Responses

Participant University Vote Confidence Bio/Vote History
Acemoglu
Daron Acemoglu
MIT
Agree
5
Bio/Vote History
But this is misleading. Climate change is an existential emergency and its effects are larger on the poor. Need to use ALL policy options!
-see background information here
Altonji
Joseph Altonji
Yale Did Not Answer Bio/Vote History
Auerbach
Alan Auerbach
Berkeley
Agree
5
Bio/Vote History
Autor
David Autor
MIT
Strongly Agree
8
Bio/Vote History
EVs are high-status luxury goods bought by affluent households. The tax credit is akin to subsidizing high-efficiency jacuzzis
Baicker
Katherine Baicker
University of Chicago Did Not Answer Bio/Vote History
Banerjee
Abhijit Banerjee
MIT
Agree
7
Bio/Vote History
Bertrand
Marianne Bertrand
Chicago
Agree
3
Bio/Vote History
Brunnermeier
Markus Brunnermeier
Princeton
Agree
6
Bio/Vote History
Chetty
Raj Chetty
Harvard Did Not Answer Bio/Vote History
Chevalier
Judith Chevalier
Yale
Agree
7
Bio/Vote History
Cutler
David Cutler
Harvard
Agree
3
Bio/Vote History
Would prefer a comparison to an explicit alternative.
Deaton
Angus Deaton
Princeton
Strongly Agree
10
Bio/Vote History
Duffie
Darrell Duffie
Stanford
Agree
2
Bio/Vote History
Getting $7500 off on a $65,000 car is probably not subsidizing low-income households.
Edlin
Aaron Edlin
Berkeley
Uncertain
1
Bio/Vote History
As to billionaire vs. millionaire, it is progressive, but as to poor vs. millionaire regressive.
Eichengreen
Barry Eichengreen
Berkeley
Agree
1
Bio/Vote History
Einav
Liran Einav
Stanford
Agree
1
Bio/Vote History
Fair
Ray Fair
Yale
Agree
5
Bio/Vote History
Finkelstein
Amy Finkelstein
MIT Did Not Answer Bio/Vote History
Goldberg
Pinelopi Goldberg
Yale
Agree
5
Bio/Vote History
Goolsbee
Austan Goolsbee
Chicago
Agree
4
Bio/Vote History
Greenstone
Michael Greenstone
University of Chicago
Agree
2
Bio/Vote History
agreed but this is static view (e.g., current EV prices) if credits lower costs, then over longer run policy might not be regressive
Hall
Robert Hall
Stanford
Agree
3
Bio/Vote History
Electric cars are luxury goods
Hart
Oliver Hart
Harvard
Agree
7
Bio/Vote History
Holmström
Bengt Holmström
MIT
Agree
6
Bio/Vote History
Hoxby
Caroline Hoxby
Stanford
Strongly Agree
10
Bio/Vote History
Hoynes
Hilary Hoynes
Berkeley
Agree
7
Bio/Vote History
The credit itself is regressive but the benefits that it generates are more evenly shared.
Judd
Kenneth Judd
Stanford
Agree
8
Bio/Vote History
Lower income households can't afford most of the electric cars.
Kaplan
Steven Kaplan
Chicago Booth
Agree
5
Bio/Vote History
Kashyap
Anil Kashyap
Chicago Booth
Agree
5
Bio/Vote History
Klenow
Pete Klenow
Stanford
Agree
2
Bio/Vote History
Levin
Jonathan Levin
Stanford
Agree
6
Bio/Vote History
Maskin
Eric Maskin
Harvard
Agree
6
Bio/Vote History
Nordhaus
William Nordhaus
Yale
Agree
9
Bio/Vote History
Looking only at fiscal side, not benefits.
Obstfeld
Maurice Obstfeld
Berkeley
Agree
5
Bio/Vote History
Saez
Emmanuel Saez
Berkeley
Agree
7
Bio/Vote History
Samuelson
Larry Samuelson
Yale
Strongly Agree
8
Bio/Vote History
Scheinkman
José Scheinkman
Columbia University
Agree
6
Bio/Vote History
Schmalensee
Richard Schmalensee
MIT
Strongly Agree
7
Bio/Vote History
Shapiro
Carl Shapiro
Berkeley
Strongly Agree
10
Bio/Vote History
Poor design of the existing tax credit points to redesigning it, not eliminating it.
Shimer
Robert Shimer
University of Chicago
Strongly Agree
10
Bio/Vote History
Stock
James Stock
Harvard Did Not Answer Bio/Vote History
Thaler
Richard Thaler
Chicago Booth
Strongly Agree
5
Bio/Vote History
Udry
Christopher Udry
Northwestern
Strongly Agree
8
Bio/Vote History

Question B Participant Responses

Participant University Vote Confidence Bio/Vote History
Acemoglu
Daron Acemoglu
MIT
Agree
4
Bio/Vote History
Yes, but again I object to the "either or" framing. Given the emergency, we need to do both and many other things, many much more radical.
Altonji
Joseph Altonji
Yale Did Not Answer Bio/Vote History
Auerbach
Alan Auerbach
Berkeley
Agree
7
Bio/Vote History
Autor
David Autor
MIT
Agree
8
Bio/Vote History
Unlikely that this this solves regressiveness problem by spurring low income HHs to buy EVs. But might encourage somewhat broader adoption.
Baicker
Katherine Baicker
University of Chicago Did Not Answer Bio/Vote History
Banerjee
Abhijit Banerjee
MIT
Agree
7
Bio/Vote History
Bertrand
Marianne Bertrand
Chicago
Uncertain
2
Bio/Vote History
Brunnermeier
Markus Brunnermeier
Princeton
Uncertain
5
Bio/Vote History
Chetty
Raj Chetty
Harvard Did Not Answer Bio/Vote History
Chevalier
Judith Chevalier
Yale
Agree
4
Bio/Vote History
The cited paper suggests "agree", though there is some uncertainty given the paper is a different time and context.
-see background information here
Cutler
David Cutler
Harvard
Uncertain
5
Bio/Vote History
Deaton
Angus Deaton
Princeton
Agree
6
Bio/Vote History
Duffie
Darrell Duffie
Stanford
Agree
2
Bio/Vote History
Edlin
Aaron Edlin
Berkeley
Uncertain
5
Bio/Vote History
Eichengreen
Barry Eichengreen
Berkeley
Agree
1
Bio/Vote History
Einav
Liran Einav
Stanford
Uncertain
1
Bio/Vote History
Fair
Ray Fair
Yale
Agree
5
Bio/Vote History
Finkelstein
Amy Finkelstein
MIT Did Not Answer Bio/Vote History
Goldberg
Pinelopi Goldberg
Yale
Agree
5
Bio/Vote History
Goolsbee
Austan Goolsbee
Chicago
Uncertain
1
Bio/Vote History
It isn’t cheap
Greenstone
Michael Greenstone
University of Chicago
Uncertain
2
Bio/Vote History
confused ?. are network externalities > learning by doing spillovers ? what is goal 4 cost-effective? but do need common stds 4 charging
Hall
Robert Hall
Stanford
Uncertain
1
Bio/Vote History
Hart
Oliver Hart
Harvard
Agree
5
Bio/Vote History
Holmström
Bengt Holmström
MIT
Agree
4
Bio/Vote History
Hoxby
Caroline Hoxby
Stanford
Uncertain
9
Bio/Vote History
Hoynes
Hilary Hoynes
Berkeley
Uncertain
5
Bio/Vote History
Judd
Kenneth Judd
Stanford
Agree
7
Bio/Vote History
Lack of charging stations is a major problem. Network externalities make a better case for subsidies.
Kaplan
Steven Kaplan
Chicago Booth
Strongly Disagree
4
Bio/Vote History
Kashyap
Anil Kashyap
Chicago Booth
Agree
1
Bio/Vote History
Klenow
Pete Klenow
Stanford
Agree
2
Bio/Vote History
Levin
Jonathan Levin
Stanford
Agree
4
Bio/Vote History
Maskin
Eric Maskin
Harvard
Agree
5
Bio/Vote History
Nordhaus
William Nordhaus
Yale
Strongly Agree
9
Bio/Vote History
Network externalities are key.
Obstfeld
Maurice Obstfeld
Berkeley
Agree
6
Bio/Vote History
Especially with gasoline prices where they are.
Saez
Emmanuel Saez
Berkeley
Uncertain
5
Bio/Vote History
Samuelson
Larry Samuelson
Yale
Strongly Agree
8
Bio/Vote History
Effective infrastructure will be critical in moving to electric vehicles as the norm.
Scheinkman
José Scheinkman
Columbia University
No Opinion
Bio/Vote History
Schmalensee
Richard Schmalensee
MIT
Agree
4
Bio/Vote History
The evidence, such as it is, seems to point in this direction, but hard to be confident. Grid upgrades needed for mass high-speed charging.
Shapiro
Carl Shapiro
Berkeley
Agree
7
Bio/Vote History
Shimer
Robert Shimer
University of Chicago
Disagree
3
Bio/Vote History
Stock
James Stock
Harvard Did Not Answer Bio/Vote History
Thaler
Richard Thaler
Chicago Booth
Agree
1
Bio/Vote History
Helping with “range anxiety” might allow other manufacturers to compete with Tesla’s array of superchargers.
Udry
Christopher Udry
Northwestern
Agree
7
Bio/Vote History