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on Transport Economics |
| By: | Rémi Russo (Chaire économie du climat - Chaire économie du climat); Virginie Boutueil (LVMT - Laboratoire Ville, Mobilité, Transport - Université Paris Est Marne-la-Vallée - Ecole des Ponts ParisTech - IFSTTAR UMR-T9404) |
| Abstract: | The ever-increasing trend to greater mobility has brought about a situation in which considerations of sustainable development might call for restrictions on the continued growth of the global mobility of people and goods. The transport sector is not the biggest contributor to greenhouse gas emissions, but accounts for a constant part in them and heavily depends on non-renewable fossil fuel. The prevalence of road transport in the sector's emissions makes it a priority in this necessary effort to move away from a carbon-intensive mobility. This study gives an overview of the options for progressing towards a low-carbon road transport. The solutions include necessary technological advances, and behavioural and organizational changes without which the benefits from these advances would be reduced. Economic instruments and public policies are needed to provide a vital support to this transition. In this regard, although emission abatements in the sector are generally considered to be costly, setting a price to CO2 emissions can prove an efficient way of adjusting relative prices according to comparative environmental benefits, thus favouring lower-carbon solutions. The options already experimented and the most credible ways forward give a glimpse of mobility's future, and food for thought to make it even better. |
| Keywords: | low-carbon mobility; CO2 emissions; carbon pricing; economic incentives; carbon tax; road transport; electric vehicle |
| Date: | 2011–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-00678498&r=tre |
| By: | Hunke, Kristina |
| Abstract: | -- |
| JEL: | F23 R12 R41 R58 |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:hswwdp:152011&r=tre |
| By: | McCullough, Gerard J.; Hadash, Ishay |
| Keywords: | Demand and Price Analysis, Financial Economics, |
| Date: | 2012–05 |
| URL: | http://d.repec.org/n?u=RePEc:ags:umaesp:123249&r=tre |
| By: | Tom Schmitz |
| Abstract: | Since 1990, Belgium has managed to bring down greenhouse gas emissions in most domains of economic activity. Road transport, as in many other countries, is a notable exception to this pattern: emissions have steadily increased, driven by an ever higher consumption of petrol and diesel. Even though the current overall performance will probably be sufficient to reach the reduction objectives of the Kyoto protocol, transport emissions thus need to be targeted in the future. One possible measure aimed at reducing them, an increase in fuel taxes, is examined in detail in this paper. The success of such a policy depends on the price elasticity of fuel demand, and therefore, the latter is estimated for Belgium and other European countries. The elasticities obtained are relatively small: in Belgium, for instance, a 10% increase in prices would cause consumption to fall by around 1.8% in the short-run and 2.3% in the medium run. Tax increases alone will thus certainly be insufficient for cutting emissions at this time horizon. Nevertheless, as a supporting measure in a more general reduction strategy, they could still yield substantial advantages. This Working Paper relates to the 2011 OECD Economic Review of Belgium (www.oecd.org/eco/surveys/Belgium).<P>Émissions de gaz à effet de serre et élasticités-prix de la demande de carburants en Belgique<BR>Depuis 1990, la Belgique a réussi à réduire ses émissions de gaz à effet de serre (GES) dans la plupart des domaines d'activité économique. Comme dans de nombreux autres pays, le transport routier constitue à cet égard une exception notable : ses émissions ont régulièrement augmenté, sous l'effet d'une consommation toujours croissante d'essence et de gazole. Même si les performances globales actuelles seront sans doute suffisantes pour atteindre les objectifs de réduction des émissions de GES du Protocole de Kyoto, un objectif doit donc être défini pour les futures émissions des transports. Une des mesures envisageables pour les faire diminuer, une hausse des taxes sur les carburants, est examinée de manière approfondie dans ce document. La réussite d'une telle mesure dépend de l'élasticité-prix de la demande de carburants, ce qui nous amène à estimer celle-ci pour la Belgique et d'autres pays européens. Les élasticités obtenues sont relativement modestes : en Belgique, par exemple, une hausse des prix de 10 % entraînerait un recul de la consommation de l'ordre de 1.8 % à court terme, et de 2.3 % à moyen terme. De simples augmentations des taxes seront donc certainement insuffisantes pour réduire les émissions à cet horizon. Néanmoins, en tant que mesures d'accompagnement s'inscrivant dans le cadre d'une stratégie plus générale de réduction des émissions de GES, elles pourraient avoir des retombées positives substantielles. Ce Document de travail se rapporte à l’Étude économique de l’OCDE de la Belgique 2011 (www.oecd.org/eco/etudes/Belgique). |
| Keywords: | Belgium, road transport, greenhouse gas emissions, elasticity of fuel demand, fuel taxes, Belgique, transport routier, émissions de gaz à effet de serre, élasticité de la demande de carburants, taxes sur les carburants |
| JEL: | Q42 Q48 Q58 |
| Date: | 2012–04–26 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:955-en&r=tre |
| By: | Andrés Gómez-Lobo |
| Abstract: | In Santiago, the capitol of Chile, an ambitious reform of the public transport industry, aptly named Transantiago, was introduced in February 2007. Serious design and implementation problems were immediately evident, creating one of the most important social and political crises in Chile since the return to democracy more than 20 years ago. In this paper we review the Transantiago experience, identifying the main design, institutional, contractual and implementation mistakes associated with the reform and the painful consequences that these failures generated among the population. We also review the policies that were implemented to address these problems and that enabled the system to provide a reasonably satisfactory service by late 2009. We believe that documenting and reviewing the Transantiago experience is important for policymakers so that analogous mistakes are not made in other transport reforms in developing countries. This may be particularly relevant now that several countries are considering or implementing reforms similar to Transantiago, for example the SITP in Bogotá, Colombia. |
| Date: | 2012–04 |
| URL: | http://d.repec.org/n?u=RePEc:udc:wpaper:wp354&r=tre |
| By: | Sinha, Pankaj; Arya, Deepshikha; Singh, Shuchi |
| Abstract: | India has emerged as one of the fastest growing economies even in the difficult financial downturn era. In coming years, India will be demanding a large number of infrastructure services to match the demand and keep an upward sloping growth curve. Indian infrastructure including both soft (port services, air and telecom) and hard (road, railways and airways) infrastructure is growing at a fast pace at present. The country also has largest road network (3.34 million km) and second largest rail network of the world. Requirement for investment in infrastructure projects was expected to increase by 145.6% from Five Year Plan 2002-07 to FYP 2007-11. Part of the investment is expected to come from the various resources as public private partnerships and public investments. Indian government is also trying to experiment with different tools of PPP (public private partnerships) financing such as VGF (viability gap financing), SPV (special purpose vehicle) to decrease the deficits on the accounts of infrastructure. This paper studies the evolution of financing needs and consequential innovative methodologies in Indian infrastructure. Government has made various efforts to match the growth in infrastructure with country’s economy growth. However, Indian infrastructure is still lagging behind globally. This study analyzes existing frameworks available for financing and risk involved in them. India has lot of opportunity to grow using public private partnership model, but still the numbers of project financed are very less. We also have studied project financing model and capital financing model which are used by various competitive countries to India. A regression analysis has been conducted on a macroeconomic model of investment in infrastructure which takes into account the exogenous variables interest rate, inflation rate, foreign exchange rate (USD/INR) and nominal gross domestic product based on Indian data from 1987-2010. Here we study how changes in any one of the aforementioned factors impact the infrastructure investment. The paper also tries to find out the correlation between and trends followed by CNX Infra and S&P 500 based on daily time series for both. A comparative analysis of two South Asian countries namely South Korea and Malaysia has been carried out with respect to India. The objective of this study is to find out what are the similarities and complementarities between the infrastructure investments of these countries and India. This helps in suggesting which ways India can move forward in order to optimize and align its infrastructure development with its continuously burgeoning needs. Finally, we have made our recommendation to facilitate infrastructure financing optimally by removing the externalities from the existing system. We also suggest a few innovative ways to finance infrastructure in India which might prove successful. |
| Keywords: | Infrastructure financing; PPP (public private partnerships); Risk mitigation; capital financing |
| JEL: | E62 C20 G38 |
| Date: | 2012–04–13 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:38741&r=tre |
| By: | Mauro Pisu; Peter Hoeller; Isabelle Joumard |
| Abstract: | Three main approaches can be used to assess infrastructure performance. The first employs macro-econometric techniques to estimate the impact of the existing infrastructure capital stock on growth and to infer its growth-maximising level. This approach neglects the impact of infrastructure on some dimensions of social welfare, such as pollution. The second relies on ex-ante or ex-post cost-benefit analyses of infrastructure projects. These take into account desirable and undesirable outcomes and provide thus a welfare perspective, but this approach would not allow comparing the performance of the existing infrastructure stock. A third approach aims at benchmarking the social efficiency of infrastructure service provision based on the existing capital stock taking into account positive and negative externalities. This paper analyses the challenges in implementing these approaches.<P>Options pour évaluer la performance des infrastructures<BR>Trois types de méthodes peuvent être utilisés pour évaluer la performance des infrastructures. Le premier suppose la mise en oeuvre de techniques macro-économétriques permettant d’estimer l’impact du stock d’infrastructures existant sur la croissance pour en déduire son potentiel de maximisation de la croissance. Cette méthode ne prend pas en compte l’impact des infrastructures sur certains aspects du bien-être social, la pollution par exemple. Le deuxième repose sur des analyses coûts-avantages des projets d’infrastructures effectuées a priori ou a posteriori. Cette méthode permet de prendre en compte les externalités souhaitables aussi bien que non souhaitables des projets et permet donc de se placer dans la perspective du bien-être, mais cette méthode ne permet pas de comparer les performances des stocks d’infrastructures existants. Enfin, il existe une troisième méthode qui vise à étalonner l’efficience sociale de la prestation de services à partir du stock existant tout en prenant en compte les externalités positives et négatives. Les difficultés inhérentes à la mise en oeuvre de ces trois méthodes sont examinées dans ce document de travail. |
| Keywords: | efficiency, infrastructure, cost-benefit analysis, infrastructure, efficacité, analyse couts-bénéfices |
| JEL: | D61 D62 H41 H54 |
| Date: | 2012–04–27 |
| URL: | http://d.repec.org/n?u=RePEc:oec:ecoaaa:956-en&r=tre |
| By: | Escobari, Diego; Lee, Sang-Yeob |
| Abstract: | This paper investigates the nature of day-to-day competition between flights using a unique panel data set on prices and inventories. We use instrumental variables methods and several spatial autoregressive models (SAR) to estimate price reaction functions. The primary source of product differentiation is departure time. After controlling for flight-specific characteristics and various sources of price dispersion, we find important evidence of demand shifting between competing flights. Most of the shift is being captured by flights scheduled to depart within a 3-hour window. We find no evidence of demand shifting between airports. |
| Keywords: | Spatial Autoregressive Models; Competition; Demand Shifting; Airlines |
| JEL: | L93 D4 C21 |
| Date: | 2012–04–17 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:38799&r=tre |