Transportation Capital in the US: A Multimodal General Equilibrium Analysis

22 Pages Posted: 4 Apr 2013

See all articles by Zhenhua Chen

Zhenhua Chen

The Ohio State University-City and Regional Planning

Kingsley E. Haynes

Schar School of Policy and Government, George Mason University

Date Written: April 2, 2013

Abstract

This paper introduces a new general equilibrium approach to evaluate economic impact of public transportation capital stock in the US. By treating public transportation capital as separated factor accounts, the model enables us to assess the economic impact of public transportation stock for four modes: road, air, transit, and water transportation. The study provides a direct and easy way for policymaker and transportation planning practitioner to compare social and economic benefits of different modes of public transportation. Findings reveal that road stock has the highest contribution to the growth of GDP and levels of social welfare; public transit and other ground passenger transportation have the least impact on the US economy among the four modes.

Keywords: Transportation capital, Multimodal, General equilibrium analysis, Economic Impact

JEL Classification: C23, R11, R42, R53

Suggested Citation

Chen, Zhenhua and Haynes, Kingsley E., Transportation Capital in the US: A Multimodal General Equilibrium Analysis (April 2, 2013). GMU School of Public Policy Research Paper No. 2013-15, Available at SSRN: https://ssrn.com/abstract=2243654 or http://dx.doi.org/10.2139/ssrn.2243654

Zhenhua Chen (Contact Author)

The Ohio State University-City and Regional Planning ( email )

275 West Woodruff Avenue
Columbus, OH 43210-1138
United States

HOME PAGE: http://u.osu.edu/chen.7172/

Kingsley E. Haynes

Schar School of Policy and Government, George Mason University ( email )

Founders Hall
3351 Fairfax Dr.
Arlington, VA 22201
United States

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