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on Transport Economics |
| By: | Avner, Paolo; Rentschler, Jun; Hallegatte, Stephane |
| Abstract: | This paper investigates the effect of carbon or gasoline taxes on commuting-related CO2 emissions in an urban context. To assess the impact of public transport on the efficiency of the tax, the paper investigates two exogenous scenarios using a dynamic urban model (NEDUM-2D) calibrated for the urban area of Paris: (i) a scenario with the current dense public transport infrastructure, and (ii) a scenario without. It is shown that the price elasticity of CO2 emissions is twice as high in the short run if public transport options exist. Reducing commuting-related emissions thus requires lower (and more acceptable) tax levels in the presence of dense public transportation. If the goal of a carbon or gasoline tax is to change behaviors and reduce energy consumption and CO2 emissions (not to raise revenues), then there is an incentive to increase the price elasticity through complementary policies such as public transport development. The emission elasticity also depends on the baseline scenario and is larger when population growth and income growth are high. In the longer run, elasticities are higher and similar in the scenarios with and without public transport, because of larger urban reconfiguration in the latter scenario. These results are policy relevant, especially for fast-growing cities in developing countries. Even for cities where emission reductions are not a priority today, there is an option value attached to a dense public transport network, since it makes it possible to reduce emissions at a lower cost in the future. |
| Keywords: | Transport Economics Policy&Planning,Climate Change Mitigation and Green House Gases,Climate Change Economics,Transport in Urban Areas,Transport and Environment |
| Date: | 2014–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:6941&r=tre |
| By: | Cristea, Anca; Hillberry, Russell; Mattoo, Aaditya |
| Abstract: | The dynamism of air traffic markets in the Middle East obscures the persistence of restrictions on international competition. But how important are such restrictions for passenger traffic? This paper uses detailed data on worldwide passenger aviation to estimate the effect of air transport policy on international air traffic. The policy variable is a quantitative measure of the commitments under international agreements. The paper analyzes, for the first time, not only bilateral agreements, but also plurilateral agreements such as the one between Arab states. The analysis finds that more liberal policy is associated with greater passenger traffic between countries. Higher traffic levels appear to be driven primarily by larger numbers of city pairs being served, rather than by more passengers traveling along given routes. To demonstrate the quantitative implication of the estimates, two liberalization scenarios in the Middle East are evaluated. Deepening the plurilateral agreement among Arab states would lead to a 30 percent increase in intraregional passenger traffic. Widening the agreement to include Turkey would generate significantly larger gains because current policy vis-à-vis Turkey is much more restrictive. |
| Keywords: | Transport Economics Policy&Planning,Airports and Air Services,Roads&Highways,Public Sector Corruption&Anticorruption Measures,Air Quality&Clean Air |
| Date: | 2014–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:6937&r=tre |
| By: | Bertho, Fabien; Borchert, Ingo; Mattoo, Aaditya |
| Abstract: | This paper examines how policy governing the liner shipping sector affects maritime transport costs and seaborne trade flows. The paper uses a novel data set and finds that restrictions, particularly on foreign investment, increase maritime transport costs, strongly but unevenly. The cost-inflating effect ranges from 24 to 50 percent and trade on some routes may be inhibited altogether. Distance increases maritime transport costs, but also attenuates the cost impact of policy barriers. Overall, policy restrictions may lower trade flows on specific routes by up to 46 percent and therefore deserve greater attention in national reform programs and international trade negotiations. |
| Keywords: | Transport Economics Policy&Planning,Economic Theory&Research,Common Carriers Industry,Free Trade,Emerging Markets |
| Date: | 2014–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:6921&r=tre |
| By: | Stephen J. Redding; Matthew A. Turner |
| Abstract: | This paper surveys the theoretical and empirical literature on the relationship between the spatial distribution of economic activity and transportation costs. We develop a multi-region model of economic geography that we use to understand the general equilibrium implications of transportation infrastructure improvements within and between locations for wages, population, trade and industry composition. Guided by the predictions of this model, we review the empirical literature on the effects of transportation infrastructure improvements on economic development, paying particular attention to the use of exogenous sources of variation in the construction of transportation infrastructure. We examine evidence from different spatial scales, between and within cities. We outline a variety of areas for further research, including distinguishing reallocation from growth and dynamics. |
| JEL: | F15 R12 R40 |
| Date: | 2014–06 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:20235&r=tre |
| By: | Luciano Campi; Ismail Laachir; Claude Martini |
| Abstract: | In this paper we consider the optimal transport approach for computing the model-free prices of a given path-dependent contingent claim in a two periods model. More precisely, we revisit the optimal transport plans constructed in \cite{BrenierMartingale} and \cite{HobsonKlimmek2013} in the case of positive martingales and a single maximizer for the difference between the c.d.f.'s of the two marginals. These characterizations allow us to study the effect of the change of numeraire on the corresponding superhedging and subhedging model-free prices. It turns out that, for \cite{BrenierMartingale}'s optimal transport plan, the change of numeraire can be viewed as a mirror coupling for positive martingales, while for \cite{HobsonKlimmek2013} it exchanges forward start straddles of type I and type II giving also that the optimal transport plan in the subhedging problems is the same for both types of options. Some numerical applications are provided. |
| Date: | 2014–06 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1406.6951&r=tre |