 So when a driver jumps into the car in the morning, drives off to work, that driver is not taking into account that the air pollution will harm people around him or her. Air pollution is a very substantial problem. The transport is one of the main contributors to local air pollution in a specially urban environment. So the idea of the project was to study the role of different regulations in the European automobile market and their interaction with the automobiles sector and then the effects on local air pollution. During the INER project, I published a paper that was evaluating a French environmental regulation on the automobile market that we call bonus malus ecological. This policy is what we call in English a fee-bate policy, which basically sets up taxes and subsidies for new car purchases, depending on the CO2 emissions of the cars. First by nature, this policy implies winners and losers, because at some points some individuals are going to pay taxes, others are going to get subsidies. This policy is going to incentivize the purchase of diesel cars, which are going to emit more of local pollutants. And we know local pollutants are olematic, especially in large metropolitan areas. So my paper is measuring the causal impact of the fee-bate policy on local pollutant emissions. And so when we are designing regulation and we are designing environmental taxes and limitations on emissions, we really need to take into account the competitive environment. We need to take into account the potential strategic and evasive responses of firms and also the responses of consumers in how consumers will change their purchase behavior when taxes and regulations change. And our work basically combines these elements in equilibrium models that try to understand the effects of these types of regulations better. As economists, we can help policymakers to design the best policies and evaluate the policies and the actions that are taken. I'm not sure we can say how much the government should spend, but what we can say is if the government is willing to pay 200 million euros, what else he could have done with the same budget? And in such cases where we have externalities, there is a very clear argument to have government intervention, either through taxes or regulation. But how we design such regulation and how we set such taxes in these complicated environments is going to determine the effects that they have on air pollution. One of the things that I and AirGrant allowed me to do was to also provide resources and data to doctoral students here at the Tulum School of Economics. And one of the students who came to talk to me during the grant period was Kevin Remy and the grant allowed us to provide data for him to study that specific question of subsidy design. I was able to develop my research on the economic environmental effect of electric car subsidies and here really benefited from interacting with eases and materials and from their knowledge in the sector. And another role I had in this grant was that I collaborated on a project that studies the effect of setting national level taxation schemes in the context of the car market onto outcomes in neighboring countries. So having been involved in this project really helped me sort of shape and develop my research agenda at the intersection of industrial organization economics and environmental economics. I was a PhD student sort of early on in my involvement in this project and so it really sort of helped me learn a lot about the tools that are necessary to answer the type of research questions that are important in this type of research. I'm particularly interested to think about local regulations like urban traffic regulations because in large metropolitan areas, equality is important but also congestion. Thinking about how to reduce car usage in large metropolitan areas through different policy instruments like road tolls or driving restrictions.