nep-tre New Economics Papers
on Transport Economics
Issue of 2015‒08‒30
twenty papers chosen by
Erik Teodoor Verhoef
Vrije Universiteit Amsterdam

  1. The Effects of Road Pricing on Driver Behavior and Air Pollution By Matthew Gibson; Maria Carnovale
  2. Perception of Waiting Time at Transit Stops and Stations By Yingling Fan; Andrew Guthrie; David Levinson
  3. Travel by Mode By Patrick Bonnel; Pascal Pochet
  4. VRP algorithms for decision support systems to evaluate collaborative urban freight transport systems By Jesus Gonzalez-Feliu; Josep-Maria Salanova Grau
  5. Explaining the Adoption of Diesel Fuel Passenger Cars in Europe By Linn, Joshua
  6. New Entry in the Italian High-Speed Rail Market By Fabio CROCCOLO; Alessandro VIOLI
  7. "Transit Makes you Short": On Health Impact Assessment of Transportation and the Built Environment By Alireza Ermagun; David Levinson
  8. Trip-timing decisions and congestion with household scheduling preferences By André De Palma; Robin Lindsey; Nathalie Picard
  9. Transportes e Metrópoles: aspectos da integração em regiões metropolitanas By Frederico Ferreira Fonseca Pedroso; Vicente Correia Lima Neto
  10. Mobility Choices and Climate Change: Assessing the Effects of Social Norms and Economic Incentives through Discrete Choice Experiments By Charles Raux; Amandine Chevalier; Emmanuel Bougna; Denis Hilton
  11. Housing Wealth Effects: Cross-sectional Evidence from New Vehicle Registrations By Christian Gillitzer; Jin Cong Wang
  12. Skilled Cities, Regional Disparities, and Efficient Transport: The state of the art and a research agenda By Proost, Stef; Thisse, Jacques-François
  13. Urban equilibrium By Oliver Robertson
  14. Study on the economic effects of the current VAT rules for passenger transport By CPB Netherlands Bureau for Economic Policy Analysis
  15. INSURANCE FRAUD THROUGH COLLUSION BETWEEN POLICYHOLDERS AND CAR DEALERS: THEORY AND EMPIRICAL EVIDENCE Pierre PICARD By Pierre Picard; Kili WANG
  16. The Distributional Effects of U.S. Clean Energy Tax Credits By Severin Borenstein; Lucas W. Davis
  17. Innovation, Emissions Policy, and Competitive Advantage in the Diffusion of European Diesel Automobiles By Miravete, Eugenio J; Moral Rincón, Maria J; Thurk, Jeff
  18. Dangerous Liaisons: Interests groups and politicians' votes. A Swiss perspective By Stefano Puddu; Martin Péclat
  19. Logistics Pooling for City Supply By Jesus Gonzalez-Feliu; Nicolas Malhéné
  20. Information and Price Dispersion: Theory and Evidence By Pennerstorfer, Dieter; Schmidt-Dengler, Philipp; Schutz, Nicolas; Weiss, Christoph; Yontcheva, Biliana

  1. By: Matthew Gibson (Williams College); Maria Carnovale (Duke University)
    Abstract: Exploiting the natural experiment created by an unanticipated court injunction, we evaluate driver responses to road pricing. We find evidence of intertemporal substitution toward unpriced times and spatial substitution toward unpriced roads. The effect on traffic volume varies with public transit availability. Net of these responses, Milan's pricing policy reduces air pollution substantially, generating large welfare gains. In addition, we use long-run policy changes to estimate price elasticities.
    Keywords: road pricing, traffic policy, air pollution
    Date: 2015–05
    URL: http://d.repec.org/n?u=RePEc:wil:wileco:2015-16&r=all
  2. By: Yingling Fan; Andrew Guthrie; David Levinson (Nexus (Networks, Economics, and Urban Systems) Research Group, Department of Civil Engineering, University of Minnesota)
    Abstract: Waiting and transferring in transit travel are often perceived negatively and can be significant obstacles to mode shifts between automobile to transit. High-amenity stations, transit centers served by multiple routes and multimodal hubs are becoming increasingly popular as strategies for mitigating transit users' aversion to waiting and transferring. However, beyond recent evidence that realtime departure information reduces perceived waiting time, there is limited empirical evidence as to which other specific station and stop amenities can effectively influence user perceptions of waiting time. To address this knowledge gap, the authors conducted a passenger survey and video-recorded waiting passengers at different types of transit stops and stations to investigate the impacts of various station characteristics on transit users' perceptions of waiting and transferring time, controlling for weather and time of day. The authors employ regression analysis to explain the variation in riders' waiting time estimates as a function of their objectively observed waiting times, as well as station and stop amenities, while controlling for weather, time of day, self-reported and observed socio-demographic characteristics and trip characteristics. Based on the results, waits at stops with no amenities are perceived as twice as long or longer than they actually are. Benches, shelters and realtime departure information signs significantly reduce perceived waiting times. A complete package of all three nearly erases the time perception penalty of waiting. Women waiting in surroundings perceived to be insecure report waits as dramatically longer than they really are, and longer than do men and/or respondents in surroundings perceived to be secure. However, the provision of stop amenities significantly reduces this disparity. The authors recommend a focus on providing basic stop amenities as broadly as possible, continued exploration of methods for communicating arrival information and a particular focus on stops in less safe areas for improvements.
    Keywords: transit; waiting time; perception; realtime information; security; gender
    JEL: R41 C93
    Date: 2015
    URL: http://d.repec.org/n?u=RePEc:nex:wpaper:stopsandstations&r=all
  3. By: Patrick Bonnel (LET - Laboratoire d'économie des transports - CNRS - UL2 - Université Lumière - Lyon 2 - École Nationale des Travaux Publics de l'État [ENTPE]); Pascal Pochet (LET - Laboratoire d'économie des transports - CNRS - UL2 - Université Lumière - Lyon 2 - École Nationale des Travaux Publics de l'État [ENTPE])
    Abstract: The analysis of transport mode use is essential to understand and/or forecast travel behavior, and therefore to respond to planning needs. Given the strong economic, social, and environmental stakes related to transport mode use, especially car use, a considerable number of empirical or theoretical works can be found in the last decades. This knowledge is more and more used in order to propose new transport policies emphasizing the need to increase the use of more s.ustainable, safer and more healthful transport modes
    Date: 2014–08
    URL: http://d.repec.org/n?u=RePEc:hal:journl:hal-01115093&r=all
  4. By: Jesus Gonzalez-Feliu (LET - Laboratoire d'économie des transports - CNRS - UL2 - Université Lumière - Lyon 2 - École Nationale des Travaux Publics de l'État [ENTPE]); Josep-Maria Salanova Grau (Hellenic Institute or Transport - Center of Research and Technologie Hellas)
    Abstract: This paper proposes a comparison between genetic and semi-greedy algorithms for a collaborative VRP in city logistics. In order to compare the performance of both algorithms on real-size test cases, we develop a cluster-first route second algorithm. The clustering phase is made by a seep algorithm, which defines the number of used vehicles and assigns a set of customers to it. Then, for each vehicle, we build a min-cost route by two methods. The first is a semi-greedy algorithm. The second is a genetic algorithm. We test both approaches on real-size instances Computational results are presented and discussed.
    Abstract: Cet article propose une comparaison entre algorithmes génétiques et semi-greedy pour un problème de tournées de véhicules collaboratif en logistique urbaine. Pour comparer les deux algorithmes, nous proposons des algorithmes séquentiels basés sur la même phase initiale, puis les tournées sont construites par des procédures différentes. La première est de type sem-greedy ; la deuxième un algorithme génétique. Des résultats sont presents et discutés.
    Date: 2015
    URL: http://d.repec.org/n?u=RePEc:hal:journl:halshs-00986648&r=all
  5. By: Linn, Joshua (Resources for the Future)
    Abstract: Compared with gasoline engines, diesel fuel engines significantly reduce fuel consumption and greenhouse gas emissions from passenger vehicles, but they emit more nitrogen oxides and other pollutants. Across countries, the market share of diesel fuel engines in passenger vehicles varies from close to zero to more than 80 percent. After specifying and estimating the parameters of a model of vehicle markets spanning seven European countries, I show that vehicle taxes and demand for fuel economy, rather than fuel prices or the set of vehicles in the market, explain adoption. The model is used to compare the environmental implications of fuel taxes and carbon dioxide emissions rate standards.
    Keywords: vehicle demand estimation, demand for fuel economy and performance, fuel taxes, vehicle taxes, carbon dioxide emissions ratesCreation-Date: 2015-08-17
    JEL: L62 Q4 Q5
    URL: http://d.repec.org/n?u=RePEc:rff:dpaper:dp-14-08-rev&r=all
  6. By: Fabio CROCCOLO; Alessandro VIOLI
    Abstract: The purpose of this presentation is to examine a specific rail transport sector, namely high-speed (HS) rail, in Italy. This analysis will cover the main features of the Italian HS system by studying aspects such as: the legislative framework, infrastructure, services, traffic data and market shares, in addition to regulatory matters.
    Date: 2013–12–13
    URL: http://d.repec.org/n?u=RePEc:oec:itfaab:2013/29-en&r=all
  7. By: Alireza Ermagun; David Levinson (Nexus (Networks, Economics, and Urban Systems) Research Group, Department of Civil Engineering, University of Minnesota)
    Abstract: The current research provides a test framework to understand whether and to what extent increasing public transit use and accessibility by transit affect health. To this end, the effect of transit mode share and accessibility by transit on general health, body mass index, and height are investigated, while controlling for socioeconomic, demographic, and physical activity factors. The coefficient-p-value-sample-size chart is created and effect size analysis are conducted to explore whether the transit use is practically significant. Building on the results of the analysis, we found that the transit mode share and accessibility by transit are not practically significant, and the power of large-sample misrepresents the effect of transit on public health. The results, also, highlight the importance of data and variable selection by portraying a significant correlation between transit use and height in a multivariate regression analysis. What becomes clear from this study is that in spite of the mushrooming interdisciplinary studies in the nexus of transportation and health arena, researchers often propose short- and long-term policies blindly, while failing to report the inherent explanatory power of variables. We show that there is a thin line between false positive and true negative results. From the weakness of p-values perspective, further, we strove to alert both researchers and practitioners to the dangerous pitfall deriving from the power of large- samples. Building the results on just significance and sign of the parameter of interest is worthless, unless the magnitude of effect size is carefully quantified post analysis.
    Keywords: Public transit; BRFSS data; ACS data; Accessibility to jobs; p-hacking
    JEL: D12 I12 B23 C13 C18 R41 R42
    Date: 2015
    URL: http://d.repec.org/n?u=RePEc:nex:wpaper:transitmakesyoushort&r=all
  8. By: André De Palma (Department of Economics, Ecole Polytechnique - CNRS - Polytechnique - X, ENS Cachan - École normale supérieure - Cachan); Robin Lindsey (Sauder - Sauder School of Business [British Columbia] - University of British Columbia); Nathalie Picard (THEMA - Théorie économique, modélisation et applications - Université de Cergy Pontoise - CNRS, Department of Economics, Ecole Polytechnique - CNRS - Polytechnique - X)
    Abstract: Most traffic congestion models assume that agents make trip-timing decisions independently and receive payoffs at the origin and destination that do not depend on whether other agents are present. We depart from this paradigm by considering a variant of Vickrey's bottleneck model of the morning commute in which individuals live as couples and value time at home more when together than when alone. We show that the costs of congestion can be higher than for a comparable population of individuals living alone. The costs can be even higher if spouses collaborate with each other when choosing their departure times. To calibrate the model we estimate trip-timing preferences for married and unmarried men and women in the Greater Paris region. Jel Classifications: D11, D70, R41.
    Date: 2015–02–17
    URL: http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01117732&r=all
  9. By: Frederico Ferreira Fonseca Pedroso; Vicente Correia Lima Neto
    Abstract: Este Texto para Discussão (TD) tem como objetivo analisar as peculiaridades da gestão de transporte e mobilidade urbana em aglomerações metropolitanas que lhe dão o caráter de função pública de interesse comum e os desafios que isto implica para o seu planejamento em âmbito metropolitano. Realizar-se-á uma análise de estudos de caso a fim de contribuir para a identificação de potenciais falhas no planejamento, na operação e na gestão de sistemas de transporte público de passageiros (STPPs) no Brasil. O estudo, por fim, aponta para problemas de integração e gestão compartilhada, bem como assinala um conflito de atribuições entre os estados, os municípios e a União. Por fim, são realizados três apontamentos: i) que o planejamento integrado dos transportes em regiões metropolitanas (RMs) não deve estar condicionado às políticas de governo; ii) que a falta de integração se dá em razão do pouco ou inexistente compartilhamento dos processos lógicos de planejamento e operação nas diferentes organizações envolvidas na gestão de transportes em uma RM; e iii) o papel fundamental da governança, evitando-se a prevalência de políticas de governo prejudiciais aos sistemas de transporte. This article analyze the transport management and the urban mobility in Brazilian metropolitan areas. The transportation and mobility are considered as a public service of common interest on metropolitan arrangements. The paper conducts an analysis of some case studies in order to contribute to the identification of potential failures on planning and operation procedures in some Brazilian Metropolitan areas. The study points out problems of integration and shared management, and notes a conflict of powers between the states, municipalities and the federal government. Finally, it is made three appointments: i) the integrated planning of transport in metropolitan should be a subject of state policy; ii) the lack of integration occurs by the low share of logical processes of planning and operation in the different organizations involved in transport management in a metropolitan area; and iii) the key role
    Date: 2015–07
    URL: http://d.repec.org/n?u=RePEc:ipe:ipetds:2113&r=all
  10. By: Charles Raux (LET - Laboratoire d'économie des transports - CNRS - UL2 - Université Lumière - Lyon 2 - École Nationale des Travaux Publics de l'État [ENTPE]); Amandine Chevalier (LET - Laboratoire d'économie des transports - CNRS - UL2 - Université Lumière - Lyon 2 - École Nationale des Travaux Publics de l'État [ENTPE]); Emmanuel Bougna (LET - Laboratoire d'économie des transports - CNRS - UL2 - Université Lumière - Lyon 2 - École Nationale des Travaux Publics de l'État [ENTPE]); Denis Hilton (Université de Toulouse - Université de Toulouse)
    Abstract: The potential of psychological and fiscal incentives in motivating environmentally responsible behavior in a context of long distance leisure travel is explored thanks to a series of controlled experiments on 900 participants. Framing effects like information on CO2 emissions, injunctive and descriptive norms, in combination with fiscal incentives such as a carbon tax, a bonus-malus or a carbon trading scheme are tested. Providing CO2 information on emissions is highly effective and the injunctive norm reinforces this effect in the case of air and train. A quota scheme reinforces the injunctive norm effect in the case of these two modes. More strikingly, the amount of the financial sanction or reward has no effect on the probability of using the various travel modes, unlike the presence of the fiscal framing itself. These results reinforce the case for using psychologically framing effects, in association or not with fiscal instruments, in promoting effective pro-environmental behavior in transport choices.
    Date: 2015–01–11
    URL: http://d.repec.org/n?u=RePEc:hal:journl:halshs-01158088&r=all
  11. By: Christian Gillitzer (Reserve Bank of Australia); Jin Cong Wang (Reserve Bank of Australia)
    Abstract: Understanding the relationship between housing wealth and consumption is important, because it informs the extent to which fluctuations in house prices might affect the broader economy. We investigate the relationship between housing wealth and consumption using postcode-level variation in house prices and administrative data on new passenger vehicle registrations as a proxy for consumption. In our preferred specification, we estimate an elasticity of new passenger vehicle registrations with respect to gross housing wealth of 0.4–0.5, and an average marginal propensity to consume (MPC) for new passenger vehicles of about 0.06 cents per dollar change in gross housing wealth. Assuming new vehicle registrations and total consumption have the same sensitivity to changes in housing wealth implies an MPC for total consumption of 2 cents per dollar change in gross housing wealth. But US evidence indicates that new vehicle consumption is particularly sensitive to changes in housing wealth. Assuming the same is true for Australia, our estimates imply an MPC for total consumption of less than 0.25 cents. Notably, we find evidence that the relationship between house prices and new vehicle registrations is heterogenous in income, with low-income households having a higher propensity to purchase a new vehicle following a rise in housing wealth than high-income households. This implies that the distribution of changes in house prices is relevant for understanding its effect on aggregate consumption.
    Keywords: consumption; house prices
    JEL: E21 E32 E60
    Date: 2015–08
    URL: http://d.repec.org/n?u=RePEc:rba:rbardp:rdp2015-08&r=all
  12. By: Proost, Stef; Thisse, Jacques-François
    Abstract: The three themes of this survey—cities, regions, and transport—are closely intertwined and gathered in the category R of the JEL Classification System. We discuss cities and regions in separate sections because they are different spatial units facing specific problems. Transport issues affect both cities and regions and are discussed in each relevant section. The introductory remarks explain both the reason for this division, as well as what spatial economics is all about. Because general economists have barely met the words cities, regions, and transport during their studies, we explain what the field of spatial economics is and define basic concepts that might not currently be in their tool box. The second section is devoted to cities; the third focuses on regions. We conclude with general policy recommendations.
    Keywords: cities; congestion; land; region; trade; transport
    JEL: R00
    Date: 2015–08
    URL: http://d.repec.org/n?u=RePEc:cpr:ceprdp:10790&r=all
  13. By: Oliver Robertson
    Abstract: When central and local governments are called upon to evaluate the costs and benefits of large infrastructure investment projects, they must rely upon models that simplify the complex, dynamic and adaptive realities of the economic, social and political systems into which the infrastructure will be deployed. Oliver Robertson explores the merits of different modelling approaches used to evaluate large-scale transportation investments.
    Date: 2014–03–01
    URL: http://d.repec.org/n?u=RePEc:vuw:vuwcrt:380103&r=all
  14. By: CPB Netherlands Bureau for Economic Policy Analysis
    Abstract: The objective of this study is to provide an economic assessment of the impact of the current VAT regimes and the likely effects of alternative VAT regimes in order to assist the Commission in making policy choices.
    Keywords: European Union, taxation, transport
    Date: 2015–03
    URL: http://d.repec.org/n?u=RePEc:tax:taxstu:0055&r=all
  15. By: Pierre Picard (Department of Economics, Ecole Polytechnique - CNRS - Polytechnique - X); Kili WANG (Tamkang University)
    Abstract: We analyze, from theoretical and empirical standpoints, how insurance distribution channels may a§ect fraud when policyholders and service providers collude. The empirical analysis focuses on the Taiwan automobile insurance market. Striking forms of claims manipulation exist in this market: opportunistic policyholders tend to manipulate claim dates to reduce the burden of deductibles and to take advantage of the bonus-malus mechanism. We focus our attention on the role of dealer-owned agents (DOAs), since they have informational and bargaining advantages when faced with insurers and may be tempted to encourage collusion between their car repairers and policyholders. We develop an optimal contract model with claim auditing, where contracts are sold either through DOAs or through standard independent agents, and where policyholders and car repairers may collude to manipulate claims. We also use a database from the largest Taiwanese insurance company to test for the relevance of theoretical predictions. In particular, we verify that fraud occurs through the postponing of claims to the end of the policy year, possibly by Öling one single claim for several events, and we show that the fraud rate is larger among policyholders who purchase insurance through the DOA channel than among other policyholders.
    Date: 2015–04–09
    URL: http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01140590&r=all
  16. By: Severin Borenstein; Lucas W. Davis
    Abstract: Since 2006, U.S. households have received more than $18 billion in federal income tax credits for weatherizing their homes, installing solar panels, buying hybrid and electric vehicles, and other "clean energy" investments. We use tax return data to examine the socioeconomic characteristics of program recipients. We find that these tax expenditures have gone predominantly to higher-income Americans. The bottom three income quintiles have received about 10% of all credits, while the top quintile has received about 60%. The most extreme is the program aimed at electric vehicles, where we find that the top income quintile has received about 90% of all credits. By comparing to previous work on the distributional consequences of pricing greenhouse gas emissions, we conclude that tax credits are likely to be much less attractive on distributional grounds than market mechanisms to reduce GHGs.
    JEL: D30 H23 H24 H50 Q41 Q48
    Date: 2015–07
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:21437&r=all
  17. By: Miravete, Eugenio J; Moral Rincón, Maria J; Thurk, Jeff
    Abstract: Spurred by Volkswagen's introduction of the TDI diesel engine in 1989, market penetration of diesel cars in Europe increased from 10% in 1990 to over 50% in 2000. Using Spanish automobile registration data, we estimate an equilibrium discrete choice, oligopoly model of horizontally differentiated products. We find that changing product characteristics and the increasing popularity of diesels leads to correlation between observed and unobserved (to the researcher) product characteristics, an aspect we allow for in the estimation. Despite widespread imitation by its rivals, Volkswagen was able to capture 32% of the potential innovation rents and diesels accounted for approximately 60% of the firm's profits. Moreover, diesels amounted to an important competitive advantage for European auto makers over foreign imports. We provide evidence that the greenhouse emissions policy enacted by European regulators, and not preferential fuel taxes, enabled the adoption of diesels. In so doing, this non-tariff policy was equivalent to a 20% import tariff; effectively cutting imports in half.
    Keywords: diesel cars; emission standards; import tariff equivalence; innovation rents
    JEL: F13 L62 O33
    Date: 2015–08
    URL: http://d.repec.org/n?u=RePEc:cpr:ceprdp:10783&r=all
  18. By: Stefano Puddu (Institute of economic research IRENE, Faculty of Economics and Business, University of Neuchâtel, Switzerland); Martin Péclat (Institute of economic research IRENE, Faculty of Economics and Business, University of Neuchâtel, Switzerland)
    Abstract: Using a unique dataset, based on the 49th Swiss legislature, we assess lobbying effect on politicians' votes. Counselors' ties are approximated by their mandates in in legal entities. Political representatives' fidelity to their political group is measured by a dummy proximity indicator. We find that proximity increases over time, as the legislature approaches to the end. Furthermore, using alternative techniques, we find that lobbying matters. More precisely, focusing on the econometric results, once controlled for individual features and political groups affiliation, we find that having mandates in energy, banking and insurance, and in the transport sectors reduces counselors' proximity. Finally, we also find that being male, young and being elected in a French or Italian speaking canton negatively affects the proximity measure.
    Keywords: Groups of pressure, lobbies, special interests, Swiss Parliament, voting behaviour.
    JEL: D7 H7
    Date: 2015–08
    URL: http://d.repec.org/n?u=RePEc:irn:wpaper:15-09&r=all
  19. By: Jesus Gonzalez-Feliu (EVS - UMR 5600 Environnement Ville Société - ENSAL - Ecole nationale supérieure d'architecture de Lyon - Ecole Nationale Supérieure des Mines de Saint-Etienne - CNRS - UL2 - Université Lumière - Lyon 2 - Université Jean Moulin - Lyon III - Université Jean Monnet - Saint-Etienne - École Nationale des Travaux Publics de l'État [ENTPE] - ENS Lyon - École normale supérieure - Lyon, PIESO-ENSMSE - Département Performance Industrielle et Environnementale des Systèmes et des Organisations - Mines Saint-Étienne MSE - École des Mines de Saint-Étienne - Institut Mines-Télécom - Institut Henri Fayol); Nicolas Malhéné (EIGSI - EIGSI - EIGSI)
    Abstract: This paper is the editorial to the Vol. 15, n° 4 of Supply Chain Forum: An International Journal. This is a special issue on logistics pooling for city supply. This paper motivates the special issue, positioning the volume with respect to current or near-past works and presents the set of selected papers included in the issue.
    Date: 2014
    URL: http://d.repec.org/n?u=RePEc:hal:journl:hal-01139476&r=all
  20. By: Pennerstorfer, Dieter; Schmidt-Dengler, Philipp; Schutz, Nicolas; Weiss, Christoph; Yontcheva, Biliana
    Abstract: We examine the relationship between information and price dispersion in the retail gasoline market. We first show that the clearinghouse models in the spirit of Stahl (1989) generate an inverted-U relationship between information and price dispersion. We construct a new measure of information based on precise commuter data from Austria. Regular commuters can freely sample gasoline prices on their commuting route, providing us with spatial variation in the share of informed consumers. We use detailed information on gas station level prices to construct price dispersion measures. Our empirical estimates of the relationship are in line with the theoretical predictions.
    Keywords: commuter data; price dispersion; retail gasoline; search
    JEL: D43 D83 L13
    Date: 2015–08
    URL: http://d.repec.org/n?u=RePEc:cpr:ceprdp:10771&r=all

This nep-tre issue is ©2015 by Erik Teodoor Verhoef. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.
General information on the NEP project can be found at http://nep.repec.org. For comments please write to the director of NEP, Marco Novarese at <director@nep.repec.org>. Put “NEP” in the subject, otherwise your mail may be rejected.
NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.