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on Transport Economics |
| By: | Linn, Joshua (Resources for the Future) |
| Abstract: | The United States and many other countries are dramatically tightening fuel economy standards for passenger vehicles. Higher fuel economy reduces per-mile driving costs and may increase miles traveled, known as the rebound effect. The magnitude of the elasticity of miles traveled to fuel economy is an important parameter in welfare analysis of fuel economy standards, but all previous estimates impose at least one of three behavioral assumptions: (a) fuel economy is uncorrelated with other vehicle attributes; (b) fuel economy is uncorrelated with attributes of other vehicles owned by the household; and (c) the effect of gasoline prices on vehicle miles traveled is inversely proportional to the effect of fuel economy. Relaxing these assumptions yields a large effect; a one percent fuel economy increase raises driving 0.2 to 0.4 percent. |
| Keywords: | fuel economy standards, passenger vehicles, vehicle miles traveled, household driving demand |
| JEL: | Q52 R22 R41 |
| Date: | 2013–11–08 |
| URL: | http://d.repec.org/n?u=RePEc:rff:dpaper:dp-13-19-rev&r=tre |
| By: | KUPFER, Franziska; KESSELS, Roselinde; GOOS, Peter; VAN DE VOORDE, Eddy; VERHETSEL, Ann |
| Abstract: | Airport competition is a topic which recently gained interest in transport research. However, many studies about airport competition focus on passengers or passenger operations. Research about airport competition for air cargo is still scarce. This paper contributes to the understanding of this topic by analyzing the airport choice for freighter operations in Europe. It first reveals the choice process that airports follow, as well as the different factors that play a role therein. Furthermore, using a discrete choice experiment, we analyzed six choice factors more in-depth. We collected completed questionnaires from 26 airlines and used the discrete choice data as input for a multinomial logit model. The results show that the presence of passenger operations at an airport is not a significant factor in explaining airlines’ choices, which, from an airline’s point of view, supports the idea of all-cargo airports and therefore the relocation of cargo operations to non-congested airports. The presence of forwarders, on the other hand, is the most important factor. This shows that, when trying to influence airlines in their airport choice, airports and policy makers also have to consider the preferences of forwarders. |
| Keywords: | Air cargo, Discrete choice analysis, Airport choice, Multinomial logit |
| Date: | 2013–11 |
| URL: | http://d.repec.org/n?u=RePEc:ant:wpaper:2013028&r=tre |
| By: | Antje-Mareike Dietrich (Institute of Transport Economics, Muenster); Gernot Sieg (Institute of Transport Economics, Muenster) |
| Keywords: | environmental externalities, network effects, private transport, technological change |
| JEL: | L92 Q55 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:mut:wpaper:20&r=tre |
| By: | Chèze, Benoit; Chevallier, Julien; Gastineau, Pascal |
| Abstract: | The aim of this article is to investigate whether anticipated technological progress can be expected to be strong enough to offset carbon dioxide (CO2)emissions resulting from the rapid growth of air transport. Aviation CO2 emissions projections are provided at the worldwide level and for eight geographical zones until 2025. Total air traffic flows are first forecast using a dynamic panel-data econometric model and then converted into corresponding quantities of air traffic CO2 emissions, through jet fuel demand forecasts, using specific hypothesis and energy factors. None of our nine scenarios appears compatible with the objective of 450 ppm CO2-eq. (a.k.a. “scenario of type I”) recommended by the Intergovernmental Panel on Climate Change (IPCC). None is either compatible with the IPCC scenario of type III, which aims at limiting global warming to 3.2◦C. Thus, aviation CO2 emissions are unlikely to diminish over the next decade unless there is a radical shift in technology and/or travel demand is restricted. |
| Keywords: | Air transport; CO2 emissions; Forecasting; Climate change; |
| JEL: | C53 L93 Q47 Q54 |
| Date: | 2013–01 |
| URL: | http://d.repec.org/n?u=RePEc:dau:papers:123456789/9262&r=tre |
| By: | Manuel Frondel; Colin Vance |
| Abstract: | Using household travel diary data collected in Germany between 1997 and 2012, we employ an instrumental variable (IV) approach to estimate fuel price and efficiency elasticities. The aim is to gauge the relative impacts of fuel economy standards and fuel taxes on distance traveled. We find that the magnitudes of the elasticity estimates are statistically indistinguishable: higher fuel prices reduce driving by the same degree as higher fuel efficiency increases driving. This finding indicates an offsetting effect of fuel efficiency standards on the effectiveness of fuel taxation, calling into question the efficacy of the European Commission’s current efforts to legislate CO2 emissions limits for new cars given prevailing high fuel taxes. |
| Keywords: | Automobile travel; panel estimation models; rebound effect |
| JEL: | D13 Q41 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:rwi:repape:0445&r=tre |
| By: | DE PALMA, André; LINDSEY, Robin; NISKANEN, Esko |
| URL: | http://d.repec.org/n?u=RePEc:cor:louvrp:-1881&r=tre |
| By: | Inga Molenda (Institute of Transport Economics, Muenster); Gernot Sieg (Institute of Transport Economics, Muenster) |
| Keywords: | residential parking, urban vitality, love of variety, local decision-making |
| JEL: | R41 R48 D61 D72 |
| Date: | 2013–09 |
| URL: | http://d.repec.org/n?u=RePEc:mut:wpaper:18&r=tre |
| By: | Valerio Gatta (University of Roma Tre and CREI); Edoardo Marcucci (University of Roma Tre and CREI) |
| Abstract: | Data quality plays a relevant role in policy evaluation. Data quality is also strictly linked to questionnaire development and administration strategies. Willingness to pay estimates might be influenced by the data acquisition method adopted if an ex-post sophisticated modelling cannot compensate for the low quality data acquired. We test this hypothesis by comparing agent-generic vs. agent-specific data acquisition. This methodologically relevant question is investigated with respect to urban freight transport policy evaluation. In this field, in fact, heterogeneity among stakeholders' (i.e. retailers and transport providers) preferences is allegedly important since retailers, demanding freight transportation services, and transport providers, offering them, are characterised by, structurally and functionally motivated, differences in preferences. Results indicate that agent-specific data acquisition should be adopted. The analyst ought to take the longer data acquisition route when a strong and well rooted a priori knowledge suggests different agent-types' preferences are at work. This reflections are particularly valuable given ex-post agent-specific modelling cannot compensate for ex-ante agent-generic data acquisition procedure. Once perpetrated, the original sin cannot be redeemed. |
| Keywords: | Urban freight transport, policy evaluation, experimental design, data acquisition, willingness to pay, agent-specific. |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:rcr:wpaper:06_13&r=tre |
| By: | Valerio Gatta (University of Roma Tre and CREI); Edoardo Marcucci (University of Roma Tre and CREI) |
| Abstract: | This paper jointly investigates non-linear attribute effects and discrete mixture heterogeneity. The research context relates to urban freight transport policy evaluation. The paper adopts an agent-specific perspective. The often unforeseen and undesired results deriving from urban freight transport policy implementation have induced many researchers to call for an in-depth analysis of specific agents' preferences. However, the structural lack of appropriate data has hindered investigations at such a detailed level. This paper contributes to bridging this data and knowledge gap by: constructing an original data set; testing for non-linear effects in attribute level variations; investigating the presence of inter and intra-agent heterogeneity; jointly exploring non-linear attribute effects and intraagent heterogeneity. The results obtained underline the relevance of intra-agent preference heterogeneity and non-linear effects of attribute variations. More in detail, the paper detects two classes of agents with substantially different preferences with respect to the possible policy interventions. Non-linear sensitivity suggests policy makers should carefully consider the effects induced by the specific status quo level for policy relevant attribute variations. Intraagent discrete heterogeneity implies different willingness to pay measures for given policy changes. The presence of both non-linear effects and intra-agent heterogeneity suggests policy makers to explicitly consider the status quo level that is to be changed while, at the same time, contemplate differentiated reactions deriving from the implementation of a urban freight policy change. In conclusion, the paper underlines the need for rigorous ex-ante policy analysis if the correct policy outcomes are to be estimated with an adequate level of accuracy. |
| Keywords: | Urban freight transport, discrete mixture heterogeneity, non-linear attribute effects, policy evaluation |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:rcr:wpaper:03_13&r=tre |
| By: | Chad Cotti (University of Connecticut); Richard A. Dunn (Texas A&M University); Nathan Tefft (University of Washington) |
| Abstract: | In this study, we examine how the probability of driving after a binge - drinking episode varies with the location of consumption and type of alcohol consumed. We also investigate the relationship between the location of alcohol purchase and the number of alcohol-related fatal motor vehicle crashes. We find that binge-drinkers are significantly more likely to drive after consuming alcohol at establishments that sell alcohol for on-premises consumption, e.g., from bars or restaurants, particularly after drinking beer. Further, per capita sales of alcohol for off-premises consumption are unrelated to the rate of alcohol- related fatal motor ve hicle crashes . When disaggregating alcohol types, per capita sales of beer for off - premises consumption are negatively associated with the rate of alcohol-related fatal motor vehicle crashes. In contrast, total per capita sales of alcohol from all establishments (on- and off-premises) are positively related to the rate of alcohol-related fatal motor vehicle crashes and the magnitude of this relationship is strongest for beer sales. Thus, policies that shift consumption away from bars and restaurants could lead to a decline in the number of motor vehicle crashes. |
| Keywords: | Alcohol Drinking, Motor Vehicles, Economics, Taxes |
| Date: | 2013–11 |
| URL: | http://d.repec.org/n?u=RePEc:zwi:wpaper:23&r=tre |
| By: | Edoardo Marcucci (University of Roma Tre and CREI); Valerio Gatta (University of Roma Tre and CREI) |
| Abstract: | Urban freight distribution policies aim to improve the efficiency of deliveries of goods in cities. Local policy makers intervene on rooted, complex and pre-existent relationships. Various are the agents, both collaborating and competing, involved in providing and buying freight distribution services. Retailers, transport providers and own-account agents are among the most important actors; they are all potentially characterized both by inter and intra agent heterogeneity in preferences. Heterogeneity in preferences, whenever present, has relevant implications for policy intervention. There is a knowledge gap related to the peculiarities of these agents' preferences and behavior, notwithstanding some recent attempts to bridge it, that call for a thorough agent-specific analysis. This paper focuses on urban freight distribution with specific reference to the impact that variations of policy characteristics (e.g. time windows, number of loading and unloading bays, entrance fees, etc.) might cause on own-account agents' behavior. It is important to underline that, de facto, own-account agents are among the least studied operators in this context. This lack of attention is mostly attributable to the toil needed to acquire relevant data to study their preferences and behavior. This lack of knowledge has favored the birth of a widely accepted presumption concerning their inefficiency that, in turn, has produced specifically targeted policies often hindering their activities. This paper reports the empirical results of a study conducted in the limited traffic zone in Rome's city center in 2009 thanks to a Volvo Research Foundation grant. The analysis is based on a comprehensive and representative data set including: 1) general information on the respondent, 2) company characteristics, and 3) stated ranking exercises. The ranking data were subsequently transformed in choice data. The paper describes own-account operators' preferences as they emerge from the stated ranking exercises and proposes a systematic comparison among them via willingness to pay measures. The compared estimates are derived under different assumptions concerning agents' preference heterogeneity. More in detail we discuss results assuming: 1) no heterogeneity (multinomial logit), 2) covariates-explained heterogeneity (multinomial logit including interactions with relevant socio-economic variables), 3) flexible heterogeneity (investigating the systematic and stochastic components of the utility function). Heterogeneity analysis, apart from relevant theoretical implications, has important policy repercussions in as much as it impacts on the willingness to pay measures of the policies implemented. An appropriate treatment of heterogeneity is therefore functional to obtaining undistorted and reliable policy forecasts to be fed to micro simulation models used to support the decision-making process. The paper: 1) addresses methodologically relevant issues, 2) uses a new, detailed and significant data set, 3) tackles policy relevant questions, 4) provides worthwhile information for policy-makers. The estimation of willingness to pay / willingness to accept measures for hypothetical policies sets a benchmark for policy makers and researchers alike. |
| Keywords: | urban freight distribution; own-account; preference heterogeneity, freight policy evaluation. |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:rcr:wpaper:04_13&r=tre |
| By: | DERVAUX, Benoît; KERSTENS, Kristiaan; VANDEN EECKAUT, Philippe |
| URL: | http://d.repec.org/n?u=RePEc:cor:louvrp:-1323&r=tre |
| By: | Peterson, George E. |
| Abstract: | Despite strong economic growth, investment in basic urban infrastructure -- water supply, wastewater removal and treatment, roads, and other capital-intensive systems -- has failed to keep pace with urban growth, leaving a critical urban infrastructure deficit. At the same time, urban lands in these many developing countries are among the most expensive in the world. Much of this land is owned by public authorities. Significant parts of it lie vacant, unused for public service provision or inappropriate for conversion to higher-valued economic activity. A composite public-sector balance sheet for India's urban areas would show an asset mix strong on public-sector landholdings but weak on infrastructure. This raises the following questions: Can some excess public-sector land be exchanged for infrastructure, in a manner that is politically acceptable and economically efficient? Can public land sales be a realistic source of finance for critically needed urban infrastructure investment? This paper considers the policy context that has shaped different land-disposal and earmarking initiatives, provides details about the actual workings of institutions, and examines international experience in infrastructure investment. This study contributes to the consultative process underway in India to consider strategies to unlock public land values to help finance urban infrastructure investment. |
| Keywords: | Public Sector Economics,Public Sector Management and Reform,Municipal Financial Management,Debt Markets,Regional Governance |
| Date: | 2013–10–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:6683&r=tre |
| By: | Raffaele Della Croce; Juan Yermo |
| Abstract: | The economic downturn is likely to have a lasting impact on the fund management industry and on long term asset allocation strategies of institutional investors. On one hand, in promoting more cautious investment strategies and a greater focus on portfolio risk management in the coming years. On the other hand, the prolonged low-yield environment has heightened the need for return-enhancing strategies, pushing some investors to invest in alternative assets. More fundamentally, the role of institutional investors in long term financing is constrained by the short-termism increasingly pervasive in capital markets as well as structural and policy barriers such as regulatory disincentives, lack of appropriate financing vehicles, limited investment and risk management expertise, transparency, viability issues and a lack of appropriate data and investment benchmarks for illiquid assets such as infrastructure. Les investisseurs institutionnels et le financement des infrastructures La récession économique aura probablement un impact durable sur le secteur de la gestion de fonds et les stratégies d’allocation d’actifs à long terme des investisseurs institutionnels. D’une part, parce qu’elle met en valeur des stratégies d’investissement plus prudentes et conduit à apporter une attention plus grande à la gestion du risque de portefeuille au cours des prochaines années. D’autre part, parce que dans un contexte de faiblesse persistante des rendements, les investisseurs sont incités à adopter des stratégies plus rémunératrices et à investir dans d’autres catégories d’actifs. Plus fondamentalement, le rôle des investisseurs institutionnels dans le financement à long terme pâtit de la prédilection pour le court terme qui se généralise sur les marchés financiers, mais également des obstacles structurels et politiques, comme les réglementations dissuasives, l’absence de formules d’investissement adaptées, des compétences limitées en gestion du risque et des investissements, des questions de transparence et de viabilité des investissements et l’absence de points de référence, en termes de données et d’investissements, en ce qui concerne des actifs aussi peu liquides que les infrastructures. |
| Keywords: | asset allocation, pension funds, institutional investors, infrastructure policy, infrastructure investment, infrastructure, private finance, pension regulation, réglementation des pensions, investissement en infrastructures, financement privé, politique des infrastructures, infrastructure, fonds de pension, allocation d'actifs, investisseurs institutionnels |
| JEL: | G15 G18 G23 G28 H54 J26 |
| Date: | 2013–11–06 |
| URL: | http://d.repec.org/n?u=RePEc:oec:dafaad:36-en&r=tre |
| By: | Nugumanova, Lyazzat |
| Abstract: | During the last decades the topic of fossil fuel subsidies has been gaining importance in the policy discussion. International Energy Agency (IEA) (2011) estimates that the total global fossil fuel subsidies in 2010 amounted to $409 billion. Kazakhstan is energy-rich country with significantly high subsidies on fossil fuels. Fossil fuel subsidies are a distortion which causes inefficient use of energy and natural resources, high CO2 emissions, distort the energy markets, put pressure on the state budget, and hinder investments into energy sector and renewable energy and thus long-term sustainable development in Kazakhstan. Removing fossil fuel subsidies could be in the long-term beneficial for Kazakhstan. The main research question is to analyze macroeconomic effects of removing current distortions in the energy market using the computable general equilibrium model (CGE), GTAP. The specific objectives are to understand the issue and the extent of fossil fuel subsidies in Kazakhstan, analyze implications of these subsidies, and provide general policy suggestions on this topic. This paper first presents main data on fossil fuel subsidies, energy and environment in Kazakhstan, literature review, methodological approach suitable for this research and expected results. |
| Keywords: | fossil fuel subsidies, Kazakhstan, computable general equilibrium model (CGE), GTAP, Environmental Economics and Policy, International Development, International Relations/Trade, Research Methods/ Statistical Methods, R, Q, O, |
| Date: | 2013–10–01 |
| URL: | http://d.repec.org/n?u=RePEc:ags:ugidic:159103&r=tre |
| By: | Jean-François Caulier (Centre d'Economie de la Sorbonne); Michel Grabisch (Centre d'Economie de la Sorbonne - Paris School of Economics); Agnieszka Rusinowska (Centre d'Economie de la Sorbonne - Paris School of Economics) |
| Abstract: | Most allocation rules for network games presented in the literature assume that the network structure is fixed. We put explicit emphasis on the construction of networks and examine the dynamic formation of networks whose evolution across time periods is stochastic. Time-series of networks are studied that describe processes of network formation where links may appear or disappear at any period. Moreover, convergence to an efficient network is not necessarily prescribed. Transitions from one network to another are random and yield a Markov chain. We propose the link-based allocation rule for such dynamic random network formation processes and provide its axiomatic characterization. By considering a monotone game and a particular (natural) network formation process we recover the link-based flexible network allocation rule of Jackson. |
| Keywords: | Dynamic networks, network game, link-based allocation rule, Markov chain, characterization. |
| JEL: | C71 D85 |
| Date: | 2013–08 |
| URL: | http://d.repec.org/n?u=RePEc:mse:cesdoc:13063&r=tre |