Pass-through of temporary fuel tax reductions: Evidence from Europe

IF 9.3 2区经济学 Q1 ECONOMICS

Energy Policy Pub Date : 2023-10-05 DOI:10.1016/j.enpol.2023.113833

Chiara Patricia Drolsbach , Maximilian Maurice Gail , Phil-Adrian Klotz

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Abstract

Several European countries have implemented temporary fuel tax reductions in 2022 to relieve the financial burden on their citizens. This paper is the first to provide estimates of the pass-through rates as well as the effect on retail margins for France and Italy. Further, it contributes to the recent literature on the fuel tax reduction in Germany. Using a unique data set containing daily consumer prices at service station chain level for gasoline and diesel, we employ a staggered Difference-in-Differences (DiD) design. Our main results imply that in the aggregate there was a full-shifting of the fuel tax reductions in all three countries. Nevertheless, in an event study design we find that the pass-through rates over time are heterogeneous between the countries and types of fuel. Depending on time, heterogeneous effects imply a full-shifting up to a minor over-shifting of the pass-through rates. These findings also have important implications for the effective design of unconventional fiscal policy as well as for competition policy in the fuel market.

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临时燃油税减免的通过：来自欧洲的证据

几个欧洲国家在2022年实施了临时燃油税减免，以减轻其公民的财政负担。本文首次对法国和意大利的通过率以及对零售利润率的影响进行了估计。此外，它还为德国最近关于燃油税减免的文献做出了贡献。使用一个独特的数据集，包含加油站连锁级别的汽油和柴油的每日消费者价格，我们采用了交错差异（DiD）设计。我们的主要结果表明，总的来说，这三个国家的燃油税减免都发生了全面转变。然而，在一项事件研究设计中，我们发现，随着时间的推移，不同国家和燃料类型之间的通过率是不同的。根据时间的不同，异质效应意味着通过率的完全转变到轻微的过度转变。这些发现对有效设计非常规财政政策以及燃料市场的竞争政策也具有重要意义。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Energy Policy 管理科学-环境科学

CiteScore

17.30

自引率

5.60%

发文量

540

审稿时长

7.9 months

期刊介绍： Energy policy is the manner in which a given entity (often governmental) has decided to address issues of energy development including energy conversion, distribution and use as well as reduction of greenhouse gas emissions in order to contribute to climate change mitigation. The attributes of energy policy may include legislation, international treaties, incentives to investment, guidelines for energy conservation, taxation and other public policy techniques. Energy policy is closely related to climate change policy because totalled worldwide the energy sector emits more greenhouse gas than other sectors.