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Author: Mark Whitman Burris
Publisher:
ISBN:
Category : Energy consumption
Languages : en
Pages : 120
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Book Description
One of the primary functions of transportation planning is to predict future travel behavior. Using estimated travel patterns, planners can then help decision makers select the array of projects that will best suit the needs of their community. Travel behavior is a function of many variables, with cost being among the most important. Recent fluctuations in the price of gas provide an excellent opportunity to observe the impact of the price of gas on travel behavior. This project goes a step beyond looking at the elasticity of travel with respect to gas price by examining how recent changes in gas prices have impacted travel on specific facilities: toll facilities. Data from around the US was used to examine how traffic levels on toll roads have been affected by fluctuations in gas prices over the last several years. This study developed models that account for the many other exogenous factors influencing toll road use (such as local economy, population, and toll rates), and provide an elasticity of toll road demand with respect to gas price independent of those other factors. This study will provide planners and toll road authorities with valuable information on how travelers react to increasing cost of travel when already selecting a mode with an added cost (the toll). The research findings indicated that travel demand elasticity estimates with respect to gas price were inelastic and mostly negative. Elasticities found here for the period from 2000 to 2010 ranged from -0.36 to +0.14, similar to those found in the literature for non-toll facilities. However, the average value of the elasticities found here were much smaller (closer to -0.06) than those found for non-toll facilities.
Author: Mark Whitman Burris
Publisher:
ISBN:
Category : Energy consumption
Languages : en
Pages : 120
Get Book Here
Book Description
One of the primary functions of transportation planning is to predict future travel behavior. Using estimated travel patterns, planners can then help decision makers select the array of projects that will best suit the needs of their community. Travel behavior is a function of many variables, with cost being among the most important. Recent fluctuations in the price of gas provide an excellent opportunity to observe the impact of the price of gas on travel behavior. This project goes a step beyond looking at the elasticity of travel with respect to gas price by examining how recent changes in gas prices have impacted travel on specific facilities: toll facilities. Data from around the US was used to examine how traffic levels on toll roads have been affected by fluctuations in gas prices over the last several years. This study developed models that account for the many other exogenous factors influencing toll road use (such as local economy, population, and toll rates), and provide an elasticity of toll road demand with respect to gas price independent of those other factors. This study will provide planners and toll road authorities with valuable information on how travelers react to increasing cost of travel when already selecting a mode with an added cost (the toll). The research findings indicated that travel demand elasticity estimates with respect to gas price were inelastic and mostly negative. Elasticities found here for the period from 2000 to 2010 ranged from -0.36 to +0.14, similar to those found in the literature for non-toll facilities. However, the average value of the elasticities found here were much smaller (closer to -0.06) than those found for non-toll facilities.
Author: Mark Whitman Burris
Publisher:
ISBN:
Category : Energy consumption
Languages : en
Pages : 0
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Book Description
One of the primary functions of transportation planning is to predict future travel behavior. Using estimated travel patterns, planners can then help decision makers select the array of projects that will best suit the needs of their community. Travel behavior is a function of many variables, with cost being among the most important. Recent fluctuations in the price of gas provide an excellent opportunity to observe the impact of the price of gas on travel behavior. This project goes a step beyond looking at the elasticity of travel with respect to gas price by examining how recent changes in gas prices have impacted travel on specific facilities: toll facilities. Data from around the US was used to examine how traffic levels on toll roads have been affected by fluctuations in gas prices over the last several years. This study developed models that account for the many other exogenous factors influencing toll road use (such as local economy, population, and toll rates), and provide an elasticity of toll road demand with respect to gas price independent of those other factors. This study will provide planners and toll road authorities with valuable information on how travelers react to increasing cost of travel when already selecting a mode with an added cost (the toll). The research findings indicated that travel demand elasticity estimates with respect to gas price were inelastic and mostly negative. Elasticities found here for the period from 2000 to 2010 ranged from -0.36 to +0.14, similar to those found in the literature for non-toll facilities. However, the average value of the elasticities found here were much smaller (closer to -0.06) than those found for non-toll facilities.
Author: David Austin
Publisher: Government Printing Office
ISBN:
Category : Business & Economics
Languages : en
Pages : 60
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Book Description
Gasoline prices and driving behavior. Volume of traffic ; Speed of traffic ; Applicability of findings to other regions of the United States -- Gasoline prices and vehicle markets. Market shares for cars and light trucks ; Gasoline prices and vehicle market status ; Changes in new vehicle fuel economy and pricing ; Changes in the used vehicle market -- Study data -- Analytical approach and economic results.
Author: Kenneth Thomas Gillingham
Publisher: Stanford University
ISBN:
Category :
Languages : en
Pages : 298
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Book Description
When gasoline prices rise, people notice: the news is filled with reports of pinched household budgets and politicians feeling pressure to do something to ameliorate the burden. Yet, raising the gasoline tax to internalize externalities is widely considered by economists to be among the most economic efficiency-improving policies we could implement in the transportation sector. This dissertation brings new evidence to bear on quantifying the responsiveness to changing gasoline prices, both on the intensive margin (i.e., how much to drive) and the extensive margin (i.e., what vehicles to buy). I assemble a unique and extremely rich vehicle-level dataset that includes all new vehicle registrations in California 2001 to 2009, and all of the mandatory smog check program odometer readings for 2002 to 2009. The full dataset exceeds 49 million observations. Using this dataset, I quantify the responsiveness to gasoline price changes on both margins, as well as the heterogeneity in the responsiveness. I develop a novel structural model of vehicle choice and subsequent utilization, where consumer decisions are modeled in a dynamic setting that explicitly accounts for selection on unobserved driving preference at both the time of purchase and the time of driving. This utility-consistent model allows for the analysis of the welfare implications to consumers and government of a variety of different policies, including gasoline taxes and feebates. I find that consumers are responsive to changing gasoline prices in both vehicle choice and driving decisions, with more responsiveness than in many recent studies in the literature. I estimate a medium-run (i.e., roughly two-year) elasticity of fuel economy with respect to the price of gasoline for new vehicles around 0.1 for California, a response that varies by whether the vehicle manufacturer faces a tightly binding fuel economy standard. I estimate a medium-run elasticity of driving with respect to the price of gasoline around -0.15 for new personal vehicles in the first six years. Older vehicles are driven much less, but tend to be more responsive, with an elasticity of roughly -0.3. I find that the vehicle-level responsiveness in driving to gasoline price changes varies by vehicle class, income, geographic, and demographic groups. I also find that not including controls for economic conditions and not accounting for selection into different types of new vehicles based on unobserved driving preference tend to bias the elasticity of driving away from zero -- implying a greater responsiveness than the true responsiveness. This is an important methodological point, for much of the literature estimating similar elasticities ignores these two issues. These results have significant policy implications for policies to reduce gasoline consumption and greenhouse gas emissions from transportation. The relatively inelastic estimated responsiveness on both margins suggests that a gasoline tax policy may not lead to dramatic reductions in carbon dioxide emissions, but is a relatively non-distortionary policy instrument to raise revenue. When the externalities of driving are considered, an increased gasoline tax may not only be relatively non-distortionary, but even economic efficiency-improving. However, I find that the welfare changes from an increased gasoline tax vary significantly across counties in California, an important consideration for the political feasibility of the policy. Finally, I find suggestive evidence that the ``rebound effect'' of a policy that works only on the extensive margin, such as a feebate or CAFE standards, may be closer to zero than the elasticity of driving with respect to the price of gasoline. This suggestive finding is particularly important for the analysis of the welfare effects of any policy that focuses entirely on the extensive margin.
Author:
Publisher:
ISBN:
Category : Energy consumption
Languages : en
Pages : 40
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Book Description
Author: Dane Joseph Cox
Publisher:
ISBN:
Category : Roads
Languages : en
Pages : 328
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Book Description
Author: Hakan Yilmazkuday
Publisher:
ISBN:
Category :
Languages : en
Pages : 28
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Book Description
The effects of gasoline prices on the U.S. business cycles are investigated. In order to distinguish between gasoline supply and gasoline demand shocks, the price of gasoline is endogenously determined through a transportation sector that uses gasoline as an input of production. The model is estimated for the U.S. economy using five macroeconomic time series, including data on transport costs and gasoline prices. The results show that although standard shocks in the literature (e.g., technology shocks, monetary policy shocks) have significant effects on the U.S. business cycles in the long run, gasoline supply and demand shocks play an important role in the short run.
Author: John Peterson
Publisher: Government Printing Office
ISBN:
Category : Business & Economics
Languages : en
Pages : 40
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Book Description
NOTE: NO FURTHER DISCOUNT FOR THIS PRINT PRODUCT--OVERSTOCK SALE -- Significantly reduced list price while supplies last Analyzes the short-term macroeconomic effects of the recent rise in energy prices as well as the likely effects over the next ten years. Utility company personnel, American citizens and consumers, economists, and energy policy advocates may be interested in this volume to compare it to today's energy position and dependence in America. Middle school students and above may be interested in this volume for research papers. All libraries should have a copy of this text in their reference collections. Related products: International Energy Outlook 2016, With Projections to 2040 can be found here: https://bookstore.gpo.gov/products/sku/061-003-01167-5 New Realities: Energy Security in the 2010s and Implications for the U.S. Military is available here: https://bookstore.gpo.gov/products/sku/008-000-01093-5 Energy& Fuels resources collection can be found here: https://bookstore.gpo.gov/catalog/science-technology/energy-fuels Other reports produced by the U.S. Congressional Budget Office (CBO) can be found here: https://bookstore.gpo.gov/agency/237
Author: Jonathan E. Hughes
Publisher:
ISBN:
Category : Gasoline
Languages : en
Pages : 32
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Book Description
Understanding the sensitivity of gasoline demand to changes in prices and income has important implications for policies related to climate change, optimal taxation and national security, to name only a few. While the short-run price and income elasticities of gasoline demand in the United States have been studied extensively, the vast majority of these studies focus on consumer behavior in the 1970s and 1980s. There are a number of reasons to believe that current demand elasticities differ from these previous periods, as transportation analysts have hypothesized that behavioral and structural factors over the past several decades have changed the responsiveness of U.S. consumers to changes in gasoline prices. In this paper, we compare the price and income elasticities of gasoline demand in two periods of similarly high prices from 1975 to 1980 and 2001 to 2006. The short-run price elasticities differ considerably: and range from -0.034 to -0.077 during 2001 to 2006, versus -0.21 to -0.34 for 1975 to 1980. The estimated short-run income elasticities range from 0.21 to 0.75 and when estimated with the same models are not significantly different between the two periods.
Author: National Research Council
Publisher: National Academies Press
ISBN: 0309159474
Category : Science
Languages : en
Pages : 251
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Book Description
Technologies and Approaches to Reducing the Fuel Consumption of Medium- and Heavy-Duty Vehicles evaluates various technologies and methods that could improve the fuel economy of medium- and heavy-duty vehicles, such as tractor-trailers, transit buses, and work trucks. The book also recommends approaches that federal agencies could use to regulate these vehicles' fuel consumption. Currently there are no fuel consumption standards for such vehicles, which account for about 26 percent of the transportation fuel used in the U.S. The miles-per-gallon measure used to regulate the fuel economy of passenger cars. is not appropriate for medium- and heavy-duty vehicles, which are designed above all to carry loads efficiently. Instead, any regulation of medium- and heavy-duty vehicles should use a metric that reflects the efficiency with which a vehicle moves goods or passengers, such as gallons per ton-mile, a unit that reflects the amount of fuel a vehicle would use to carry a ton of goods one mile. This is called load-specific fuel consumption (LSFC). The book estimates the improvements that various technologies could achieve over the next decade in seven vehicle types. For example, using advanced diesel engines in tractor-trailers could lower their fuel consumption by up to 20 percent by 2020, and improved aerodynamics could yield an 11 percent reduction. Hybrid powertrains could lower the fuel consumption of vehicles that stop frequently, such as garbage trucks and transit buses, by as much 35 percent in the same time frame.
