“Dealing with negative externalities: Low emission zones versus congestion tolls” (joint with Valeria Bernardo and Xavier Fageda)
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Abstract: The great weight of cars as means of mobility in large cities generates significant negative externalities, both in terms of congestion and pollution. Two main types of measures can be applied depending on whether they are quantity or price-based. Price-based measures consist in charging urban tolls, whose primary goal is to mitigate congestion. Instead, low emission zones (LEZ), which are the most popular quantity-based measures in Europe, aim primarily at reducing pollution. Although both urban tolls and LEZ may be effective in mitigating pollution, urban tolls are superior to LEZ in abating congestion.
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