It has been 40 years since the oil crisis of 1973/74. This crisis has been one of the defining
economic events of the 1970s and has shaped how many economists think about oil price …

Can directed technical change be used to combat climate change? We construct new firm-
level panel data on auto industry innovation distinguishing between “dirty”(internal …

Policymakers often assert that consumers undervalue future gasoline costs when they buy
automobiles. We test this by measuring whether relative prices of vehicles with different fuel …

How consumers evaluate trade-offs between the cost of buying additional fuel economy and
the expected fuel savings that result is an important underlying determinant of the overall …

We estimate the sensitivity of scrap decisions to changes in used car values and show how
this “scrap elasticity” produces emissions leakage under fuel efficiency standards, a process …

A full understanding of how gasoline prices affect consumer behavior frequently requires
information on how consumers forecast future gasoline prices. We provide the first evidence …

It has long been suspected, given the salience of gasoline prices, that fluctuations in
gasoline prices shift households'1‐year inflation expectations. Assessing this view …

We conduct a survey of consumers in four EU countries (the Czech Republic, Germany, Italy
and Poland) faced with supply disruptions, rising energy prices, and serious concerns about …

I study how consumers respond to competing pieces of information that differ in their degree
of complexity and informativeness. In particular, I study the choice of refrigerators in the …

Consumer inflation expectations are positively correlated with gas prices. The optimal
monetary policy response to energy price fluctuations depends on whether inflation …