Economic Resilience to Transportation Failure: A Computable General Equilibrium Analysis
18 Pages Posted: 19 Jul 2016
Date Written: July 16, 2016
This study develops and applies a multimodal Computable General Equilibrium (CGE) framework to investigate the role of resilience in the economic consequence of transportation system failure. Vulnerability and economic resilience of different modes of transportation infrastructures, including air, road, rail, water and local transit, are assessed and compared using a CGE model that incorporates various resilience tactics including modal substitution, trip conservation, excess capacity, relocation/rerouting, and service recapture. The linkages between accessibility and vulnerability and resilience are analyzed. The model is applied to the transportation system failures in the aftermath of Hurricane Katrina to illustrate its capabilities. The analytical framework, however, has broader applications and can provide insights for resource allocations to enhance emergent responses to unexpected events and to improve resilient design of transportation infrastructure systems.
Keywords: Transportation, System Failure, Economic Resilience, Accessibility, Computable General Equilibrium (CGE) Modeling, Hurricane Katrina
JEL Classification: C68, D04, D58, Q54
Suggested Citation: Suggested Citation