Weak environmental regulations in poorer economies and stronger emissions regulations in exporting countries are among the factors "inciting this unregulated global trade in clunkers
," said Anumita Roychowdhury of CSE on Monday.
(2) Such timing behavior falls in the first tier of Joel Slemrod's (1992) "hierarchy of behavioral responses to taxation," and the prediction of significant timing response is borne out in empirical analyses of sales tax holidays (Cole 2012), Cash for Clunkers
(Copeland and Kahn 2013; Mian and Sufi 2012), expiring hybrid vehicle subsidies (Sallee 2011), and the temporary bonus depreciation on capital goods (House and Shapiro 2008).
Can you picture a row of elephantine clunkers
waiting for the light to change at a frenetic intersection of Hong Kong?
This, say Gayer and Parker, suggests that participants in the program ''were not liquidity constrained,'' which is a delicate way of saying ''there was no change in other consumption patterns,'' which is a polite way of saying ''cash for clunkers
'' merely caused people to purchase vehicles ''slightly earlier than otherwise would have occurred.''
Cash for clunkers
is the programme adopted by the US government to revive its auto industry by offering incentives to customers to phase out their old vehicles and buy new ones.
Nearly a million Americans participated in the Cash for Clunkers
program, officially known as the Car Allowance Rebates System (CARS), as they traded in their gas-guzzlers for as much as a $4,500 rebate toward the purchase of a new vehicle.
WHEN THE "CASH FOR CLUNKERS
" PROGRAM debuted as part of the Obama administration's fiscal stimulus program in the summer of 2009, it inspired as much skepticism as glee.
For their analysis, Mian and Sufi compare cities with high numbers of "clunkers
" in the summer of 2008 to cities with lower numbers of clunkers
I MISSED OUT ON SOME OF THE high-profile federal stimulus programs: My reliable old pickup truck didn't become a clunker
until an unfortunate traffic accident that happened after the "Cash for Clunkers
" program had expired.
Best are Middle Of The Night, which offers a ray of hope, and scrappage song Cash For Clunkers
The spike, which began in August 2009 and seems to have receded this past April, corresponds to the duration of the CARS program (commonly referred to as "Cash for Clunkers
Here are the numbers on the federal Cash for Clunkers
rebate program for cars.
An unplanned and rapid spike in demand occurred in the auto industry as a result of the "Cash for Clunkers
This year's popular "cash for clunkers
" auto program may offer one final reward to many of the 8,600 Oregon consumers who participated in it.
The only exception was August, which showed a 5.5% spike in sales, which Lugo attributed to the temporary Cash for Clunkers
program launched by the federal government.