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on Transport Economics |
| By: | Tales Rozenfeld; Eduardo A. Haddad |
| Abstract: | This study explores the issue of road infrastructure funding, analyzing the impact of financing a road improvement project through tolls tariff charged from the final users vis-a-vis the financing through an increase in the country’s payroll tax rate. Using a transport model integrated to an interregional computable general equilibrium model this research simulated alternative arrangements for financing investments made at BR-040, Brazilian road granted by the Federal Government and which figured as the case study for this research. The results indicate that the way the investment is financed is relevant to the regionally distributed impacts of the project, being decisive in defining which regions are benefited by the improvement project. Analyzing the country’s aggregated results, the situation that has the greatest impact on the Brazilian's GDP growth is the investment payed by the road users through toll tariff. From a regional perspective, a clear area of influence that benefits from the improvements on the road can be identified and, when the costs for executing such improvements are shared with the whole country through a tax increase, these benefits are accentuated. |
| Keywords: | regional economics; transport policy; general equilibrium |
| JEL: | R13 R42 C68 |
| Date: | 2016–12–16 |
| URL: | http://d.repec.org/n?u=RePEc:spa:wpaper:2016wpecon42&r=tre |
| By: | Llanto, Gilberto M. |
| Abstract: | Everyone has an opinion on how to solve the terrible traffic plaguing Manila every hour of every day. Many people blamed the behemoth cargo trucks plying the roads everyday, inconveniencing thousands of commuters and car drivers by taking up too much space. People across the metropolis rejoiced when the City of Manila declared a truck ban, effectively preventing cargo trucks from crowding the roads. Commuters and passengers collectively felt relieved to have saved a few minutes in their daily journey from home to work. Ultimately, the price of those precious minutes added up to major economic losses reaching billions of pesos. Who could have imagined that things could go wrong? |
| Keywords: | Philippines, infrastructure, truck ban, port congestion, ports, logistics industry: Manila, economic loss |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2016-52&r=tre |
| By: | Eduardo A. Haddad; Ana Maria Bonomia Barufi |
| Abstract: | The spatial mismatch between residential locations and jobs can be particularly relevant for low-skilled individuals. In this paper, we first explore such phenomenon from the perspective of the distance of the residence to the geographic concentration of jobs, and locational disadvantages of the urban form itself. Such unequal conditions in the labor market present a great challenge for the spatial sustainability of the multiple equilibria achieved simultaneously at the labor and the housing markets. We estimate the main aspects that influence wage differentials among individuals, focusing on the role of accessibility on labor market outcomes. We suggest the inclusion of geographical characteristics as instruments to deal with endogeneity problems that arise in the estimation of urban price models. Our strategy is based on the inclusion of a specific geographic/historic variable as instrument, namely the river shore access to the first school built by the Jesuits in São Paulo, the city’s founding location. Geography acted as a determinant of the location of the transportation infrastructure in the region, so that the road and rail networks in the city present a strong spatial correlation with pre-urban “waterways”. Nowadays, the vast majority of rivers and creeks are covered with asphalt and cement, and economic agents are practically unaware of their existence. |
| Keywords: | Accessibility; inequality; urban labor market; São Paulo Metropolitan Region |
| JEL: | R14 C26 |
| Date: | 2016–12–16 |
| URL: | http://d.repec.org/n?u=RePEc:spa:wpaper:2016wpecon40&r=tre |
| By: | Cheikhrouhou, Naoufel; de Vrieze, Paul; Giovannetti, Emanuele; Liu, Shaofeng; Xie, Ying; Xu, Lai; Yu, Hongnian |
| Abstract: | Logistics section is one of the most important industrial sections to contribute to European economy. To improving efficiency and energy efficient of logistics, European Commission call new research theme ‘smart, green and integrated transport' in its H2020 program. The paper presents a version on providing a cloud based platform for supporting big data empowered logistics services to respond this call. The research is supported by inter-disciplinary approaches, which brings experts from telecommunication, cloud computing, sensor networking, service-oriented computing, data analysis, transportation, and logistics areas to work together to provide real-world solutions for future logistics. The research questions and challenges of the platform are highlighted. Overall architecture and data collection are presented. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148662&r=tre |
| By: | Theodoros N. Chatzivasileiadis (Institute for Environmental Studies, Vrije Universiteit Amsterdam); Marjan W. Hofkes (Department of Economics, Vrije Universiteit Amsterdam; Institute for Environmental Studies, Vrije Universiteit Amsterdam; Department of Spatial Economics, Vrije Universiteit Amsterdam); Onno J. Kuik (Institute for Environmental Studies, Vrije Universiteit Amsterdam); Richard S.J. Tol (Department of Economics, University of Sussex; Institute for Environmental Studies, Vrije Universiteit Amsterdam; Department of Spatial Economics, Vrije Universiteit Amsterdam; Tinbergen Institute, Amsterdam; CESifo, Munich) |
| Abstract: | We use the latest version of the GTAP multi-sector / multi-country model to assess the impact of sea level rise on transport infrastructure. Using DIVA output as input, our results indicate that Global GDP is depressed, but European GDP is less affected compared to the rest of the world. Sea level rise as projected in the IPCC RCP8.5 scenario causes global welfare losses of USD 61 billion in 2050. These losses are mainly caused by productivity losses in sea transport. We show that globally the welfare losses exceed the direct transportation cost changes by 30%, with substantial regional variation. Developed regions adjust better to increases in transportation costs than developing regions. Through transport, sea level rise causes significant changes to the global economy. |
| Keywords: | climate change, computable general equilibrium, CGE, sea level rise, transportation disruptions, water transport |
| JEL: | Q54 |
| Date: | 2016–11 |
| URL: | http://d.repec.org/n?u=RePEc:sus:susewp:09916&r=tre |
| By: | Beestermöller, Matthias |
| Abstract: | This paper investigates the effect of the largest rail strikes in German history in 2014-2015 on long-distance buses – a newly liberalized market. Using a novel dataset of detailed bus ticket sales and rail cancellations, I find that the primary channel that drives ticket sales during the strike is whether the absolute bus travel time was sufficiently short. In a difference-indifferences framework, I exploit this variation to identify any demand persistence. Although the common trend assumption does not seem to be completely tenable in the given context, my results point to a persistent effect on the ticket sales for inter-city buses on the affected routes. |
| Keywords: | Transportation; Long-Run Demand Effects; Intermodal Substitution; Strike |
| JEL: | L92 R41 C81 |
| Date: | 2017–01–10 |
| URL: | http://d.repec.org/n?u=RePEc:lmu:muenec:31768&r=tre |
| By: | International Monetary Fund. |
| Abstract: | This Selected Issues paper quantifies the short- and medium-term growth effects of major ongoing highway and railway projects in the Former Yugoslav Republic of Macedonia. A standard neoclassical growth model is augmented with public capital to capture both demand and supply-side effects of public infrastructure investments. The calibrated model suggests that the four ongoing highway and railway investments of 2–3 percent of GDP annually for 2014–18 are likely to raise the growth rate of real GDP by 0.5 percentage points on average for each year in 2014–20. Enhancing public investment efficiency can increase growth effects up to 0.8 percentage points. |
| Keywords: | Public investment;Infrastructure;Foreign direct investment;Economic growth;Employment;Labor market reforms;Spillovers;Selected Issues Papers;former Yugoslav Republic of Macedonia (FYR Macedonia); |
| Date: | 2016–11–21 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:16/357&r=tre |
| By: | Na, Kyoung-Youn; Yoon, Chang-Ho |
| Abstract: | This paper estimates the non-linear impact of ICT network on motorway contribution to total factor productivity. Using dynamic panel data of OECD member countries, the paper finds that there exists a critical mass of broadband penetration rate which has the property that if this threshold level is reached, there will be an accelerating network effects of motorway extension. |
| Keywords: | ICT convergence,productivity growth,complementarity,infrastructure development |
| JEL: | O47 O38 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148692&r=tre |
| By: | Luciano Campi; Ismail Laachir; Claude Martini |
| Abstract: | In this paper, we apply change of numeraire techniques to the optimal transport approach for computing model-free prices of derivatives in a two-period setting. In particular, we consider the optimal transport plan constructed in Hobson and Klimmek (Finance Stoch. 19:189–214, 2015) as well as the one introduced in Beiglböck and Juillet (Ann. Probab. 44:42–106, 2016) and further studied in Henry-Labordère and Touzi (Finance Stoch. 20:635–668, 2016). We show that in the case of positive martingales, a suitable change of numeraire applied to Hobson and Klimmek (Finance Stoch. 19:189–214, 2015) exchanges forward start straddles of type I and type II, so that the optimal transport plan in the subhedging problems is the same for both types of options. Moreover, for Henry-Labordère and Touzi’s (Finance Stoch. 20:635–668, 2016) construction, the right-monotone transference plan can be viewed as a mirror coupling of its left counterpart under the change of numeraire. |
| Keywords: | robust hedging; mode-independent pricing; model uncertainty; optimal transport; change of numeraire; forward start straddle |
| JEL: | G13 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:68783&r=tre |
| By: | Richard Guy Cox (Department of Economics, Arizona State University); Darren Grant (Department of Economics and International Business, Sam Houston State University) |
| Abstract: | This paper documents a large educational gradient in traffic fatality rates and investigates its source. Compared to individuals with a college education, those with at most a high school diploma are more than four times as likely to die in a traffic accident, a gradient exceeding that for all-cause mortality. More educated individuals’ health behaviors, such as drinking or seat belt use, support this gradient. A panel analysis of data from the Fatality Analysis Reporting System indicates that this gradient is, to a small degree, causal, particularly for males, who cause most traffic accidents. |
| Keywords: | human capital; traffic safety |
| JEL: | I12 I26 R41 |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:shs:wpaper:1701&r=tre |
| By: | Christiaan Hogendorn (Economics Department, Wesleyan University); Brett Frischmann (Cardozo Law School) |
| Abstract: | Economic growth models often refer to “general purpose technology” (GPT) and “infrastructure” as key to improving productivity. Some GPTs, like railroads and the Internet, fit common notions of infrastructure, while other likes the steam engine and the computer do not. Without a specific model of the special characteristics of infrastructures, important technology policy questions relating to openness are not addressed. Infrastructure is similar to other GPTs in its demand-side characteristics that enable a wide variety of productive activities (or uses) and generate substantial spillovers to the rest of the economy. On the supply side, infrastructure is quite different from the other GPTs. It is partially nonrival as opposed to fully nonrival, which may complicate appropriation problems and raise congestion issues. It has strong cost-side economies of scale giving less scope for using markets to provide and control it. And it exhibits tethering, meaning that different users must be physically or virtually connected for the infrastructure to function. We present a technology flow framework that clarifies these issues and provides a base for policy analysis and for defining empirical research questions. |
| Keywords: | infrastructure, general purpose technologies, institutions, economic growth, spillovers, open systems |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:wes:weswpa:2017-001&r=tre |
| By: | Maton, Alain |
| Abstract: | NGA investments request several forms of infrastructure sharing due to the high level of investments, their efficiency vary dramatically following circumstances and areas. The right choice is a key feature to facilitate infrastructure competition. The purpose of the paper is to compare the different available architectures. |
| Keywords: | electronic communications,access regulation,infrastructure sharing,NGA |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:itse16:148691&r=tre |
| By: | Sutirtha Bagchi (Department of Economics, Villanova School of Business, Villanova University) |
| Abstract: | This article examines the institution of taxicab medallions in two of the largest cities of the U.S.: New York and Chicago and changes in the prices of these medallions during the period 2009-2016 (for New York City) and 2007-2016 (for Chicago). It finds a drop of roughly 50% in the prices of these medallions in New York City and roughly 80% in Chicago from their peak in 2013/2014 to the present day. This drop is likely due to the rise of Transportation Network Companies (TNCs) such as Uber and Lyft although there have been other developments in this industry and this article chronicles some of these developments. |
| Keywords: | Taxicab medallions; Transportation Network Company; Uber; Lyft |
| JEL: | L43 L51 G14 M13 |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:vil:papers:33&r=tre |