TY - JOUR
T1 - Economic consequences of the Home Appliance Eco-Point Program in Japan
T2 - a dynamic discrete choice approach
AU - Nishijima, Daisuke
AU - Kagawa, Shigemi
AU - Nansai, Keisuke
AU - Oguchi, Masahiro
N1 - Funding Information:
This research was funded by a research grant from the Kyushu University Platform of Inter/Transdisciplinary Energy Research (Q-PIT), Grant-in-Aid for Scientific Research (A) [26241031]; and Grant-in-Aid for Scientific Research (B) [26281056] from the Ministry of Education, Culture, Sports, Science and Technology of Japan.
Publisher Copyright:
© 2019, © 2019 Informa UK Limited, trading as Taylor & Francis Group.
PY - 2019/9/2
Y1 - 2019/9/2
N2 - This study combined a dynamic discrete choice model for air conditioner replacement decisions with an inter-industry model in order to evaluate the economic impact of Japan’s Home Appliance Eco-Point Program, an appliance replacement program that was in effect from May 2009 to March 2011. Focusing on air conditioners produced from 1995 to 1999 and replaced during the period from 2005 to 2013, we found that the eco-point program increased replacement probabilities by 1.5% to 1.9% in 2009. Moreover, the program produced an additional output of 31,337 million yen and a total value added of 21,259 million yen. However, the benefit–cost ratio–determined by dividing the increase in value added by the monetary value of the points awarded for appliance replacement–was only 0.68. From a cost-benefit perspective, the program can be judged not to have been an effective policy measure.
AB - This study combined a dynamic discrete choice model for air conditioner replacement decisions with an inter-industry model in order to evaluate the economic impact of Japan’s Home Appliance Eco-Point Program, an appliance replacement program that was in effect from May 2009 to March 2011. Focusing on air conditioners produced from 1995 to 1999 and replaced during the period from 2005 to 2013, we found that the eco-point program increased replacement probabilities by 1.5% to 1.9% in 2009. Moreover, the program produced an additional output of 31,337 million yen and a total value added of 21,259 million yen. However, the benefit–cost ratio–determined by dividing the increase in value added by the monetary value of the points awarded for appliance replacement–was only 0.68. From a cost-benefit perspective, the program can be judged not to have been an effective policy measure.
UR - http://www.scopus.com/inward/record.url?scp=85064703368&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85064703368&partnerID=8YFLogxK
U2 - 10.1080/00036846.2019.1593939
DO - 10.1080/00036846.2019.1593939
M3 - Article
AN - SCOPUS:85064703368
SN - 0003-6846
VL - 51
SP - 4551
EP - 4563
JO - Applied Economics
JF - Applied Economics
IS - 41
ER -