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Chicken or egg? the PVAR econometrics of transportation

Ahlfeldt, Gabriel M. and Moeller, Kristoffer and Wendland, Nicolai (2014) Chicken or egg? the PVAR econometrics of transportation. Journal of Economic Geography, 15 (6). pp. 1169-1193. ISSN 1468-2702

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Abstract

To analyse the mutually dependent relationship between local economic performance, de- mand for and supply of transport services, we employ the structural panel VAR method that is popular in the macroeconomic literature, but has not previously been applied to the modelling of the within-city dynamics of transportation. We focus on a within-city panel of Berlin, Germany during the heyday of the construction of its dense public transit network (1890–1914). Our results suggest that economic out- comes and a supply of transport infrastructure mutually determine each other. We find a short-run (long-run) elasticity of property prices with respect to transport supply of 2% (8.5%). Both transport demand and supply seem to be driven more by firms than by residents.

Item Type: Article
Official URL: http://joeg.oxfordjournals.org/
Additional Information: © 2014 Oxford University Press
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HD Industries. Land use. Labor
JEL classification: N - Economic History > N7 - Transport, International and Domestic Trade, Energy, Technology, and Other Services > N73 - Europe: Pre-1913
N - Economic History > N7 - Transport, International and Domestic Trade, Energy, Technology, and Other Services > N74 - Europe: 1913-
R - Urban, Rural, and Regional Economics > R1 - General Regional Economics > R12 - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade
R - Urban, Rural, and Regional Economics > R1 - General Regional Economics > R14 - Land Use Patterns
R - Urban, Rural, and Regional Economics > R4 - Transportation Systems > R41 - Transportation: Demand, Supply, and Congestion; Safety and Accidents; Transportation Noise
Sets: Departments > Geography and Environment
Research centres and groups > Spatial Economics Research Centre
Date Deposited: 26 Aug 2014 11:04
Last Modified: 15 Oct 2016 23:00
URI: http://eprints.lse.ac.uk/id/eprint/59205

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