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on Transport Economics |
| By: | Vinokurov, Evgeny; Lobyrev, Vitaly; Tikhomirov, Andrey; Tsukarev, Taras |
| Abstract: | This report, prepared with the participation of experts from the Institute of the Economy and Transport Development, presents the results of quantitative assessment of freight traffic growth prospects along the China–EAEU–EU axis. The report provides a description of general trends affecting development of freight transport subject to commodity structure and mode of transport. Special attention is paid to factors driving changes in freight traffic. The authors present their view of the impact that freight rates have on the metrics of freight traffic being rechannelled to EAEU transport infrastructure and the operation of certain factors, such as regularity (rhythmicity) and timeframes of cargo deliveries. The final part of the report offers an assessment of additional freight traffic which may be attracted to transport routes along the China–EAEU–EU axis, in the short and long term. |
| Keywords: | Transport corridors, Belt and Road Initiative, transport infrastructure, Silk Road, EAEU, China, EU |
| JEL: | F15 R41 R42 |
| Date: | 2018–04–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:86184&r=tre |
| By: | Regina FangYing Lin |
| Abstract: | There are many causes of imbalance regional development. This study explores the idea that new infrastructure investment could subsequently lead and increased private construction investment differently over time and space. It further explores another idea – that the effects of each of the two kinds of infrastructure investment (social and economic) on each of the two main kinds of construction output, housing and commercial construction, may be quite different. In addition, yet another idea is explored – that the effects of increases either in the residential or the commercial built stock of a region may be that it calls-forth (provides the need and demand for) more infrastructure investment in that region – that infrastructure demand may be a function of the number of households, and, more particularly, of the number of dwellings, and of the amount of transport demand generated by commercial activities. Therefore, the aim of this research is to provide different views on the nature of the relationships between infrastructure investment and imbalance regional development in GB. The results show that the causal relationships differ across regions, and the economic infrastructure investment (transportation) has a deeper influence on both private commercial and residential investment than the social infrastructure. This research tries to improve the understanding the linkage between infrastructure investment and private construction investments in terms of their relations with economic growth, private property prices, and private construction outputs. |
| Keywords: | Econometric analysis; Infrastructure Investment; Regional Development |
| JEL: | R3 |
| Date: | 2017–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2017_261&r=tre |
| By: | Etienne Wasmer (Département d'économie); Guillaume Chapelle (Département d'économie); Pierre-Henri Bono (Sciences Po) |
| Abstract: | A travers le Grand Paris Express, l’agglomération parisienne se dote de nouvelles infrastructures de transport conduisant au doublement de la taille actuelle du système de métro. Nous proposons une modélisation originale de cette évolution qui intègre un marché du travail frictionnel et un marché du logement segmenté, entre un secteur à prix/loyers libres et un secteur à prix régulés. Suivant l’hypothèse retenue par les équipes de la Société du Grand Paris d’un gain de 3 % de temps/pénibilité/coûts financiers directs du transport, et en fonction de différents scénarii de croissance de la population, le modèle prédit soit des gains en emplois, soit une baisse des loyers au centre. Dans un scénario où la population peut croître au rythme de l’amélioration des différentes infrastructures de transport avec des constructions nouvelles permettant l’installation de nouveaux ménages, les effets sont de l’ordre de 160 000 emplois. Dans un scénario plus malthusien où l’offre de logements ne suit pas, les effets en emploi sont très diminués et l’essentiel de l’ajustement est porté par une baisse des loyers au centre de l’agglomération : la pression sur l’occupation de l’espace au centre est réduite. Le bien-être des ménages augmente, mais l’emploi progresse peu, de l’ordre de 3 000. Tous les chiffres de cette note sont des déviations en tendance de la situation qui aurait prévalu en l’absence de nouvelles infrastructures et maintien de la qualité des infrastructures existantes. |
| Keywords: | marché du travail; marché du logement; évaluation d'impact |
| Date: | 2017–12 |
| URL: | http://d.repec.org/n?u=RePEc:spo:wpmain:info:hdl:2441/10vv4atk6886c97u6e1m4vt8ko&r=tre |
| By: | Ater, Itai; Yosef, Nir |
| Abstract: | We examine the effects of Volkswagen's emissions scandal (`Dieselgate`) on the secondary car market in Israel. Using administrative data on all car transactions in Israel, we measure the scandal's effect on the number and the composition of transactions involving used vehicles made by the Volkswagen Group. We also use data from the leading classified ad website and measure the effect of the scandal on the resale price of used Volkswagen vehicles. According to our findings, the Volkswagen emissions scandal had a statistically significant negative effect on the number of transactions involving vehicles made by Volkswagen (nearly -18.0%) and on their resale price (nearly -6.0%). We also find that the reduction in the number of transactions was driven mostly by private sellers and that non-private sellers barely shied away from the market. We discuss potential explanations for these findings. |
| Keywords: | Durable goods; Product recall; Secondary market; Vehicles |
| JEL: | D12 D80 L14 L62 |
| Date: | 2018–04 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:12899&r=tre |
| By: | Alexandrov, Alexei; Pittman, Russell; Ukhaneva, Olga |
| Abstract: | Monopolists selling complementary products charge a higher price in a static equilibrium than a single multiproduct monopolist would, reducing both the industry profits and consumer surplus. However, firms could instead reach a Pareto improvement by lowering prices to the single monopolist level. We analyze administrative nationally-representative pricing data of railroad coal shipping in the U.S. We compare a coal producer that needs to ship from A to C, with the route passing through B, in two cases: (1) the same railroad owning AB and BC and (2) different railroads owning AB and BC. We do not find that price in case (2) is higher than price in case (1), suggesting that the complementary monopolist pricing inefficiency is absent in this market. For our main analysis, we use a specification consistent with the previous literature; however, our findings are robust to propensity score blocking and machine learning algorithms. Finally, we perform a difference-in-differences analysis to gauge the impact of a merger that made two routes wholly-owned (switched from case 2 to case 1), and these results are also consistent with our main findings. Our results have implications for vertical mergers, tragedy of the anticommons, mergers of firms selling complements, and royalty stacking and patent thickets. |
| Keywords: | pricing of complements, vertical mergers, Cournot, Coase, railroads |
| JEL: | D21 D22 D43 D86 L13 L14 L4 L40 L92 |
| Date: | 2018–04–18 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:86279&r=tre |