Offering a unifying theoretical perspective not readily available in any other text, this innovative guide to econometrics uses simple geometrical arguments to develop students' intuitive understanding of basic and advanced topics, emphasizing throughout the practical applications of modern theory and nonlinear techniques of estimation. One theme of the text is the use of artificial regressions for estimation, reference, and specification testing of nonlinear models, including diagnostic tests for parameter constancy, serial correlation, heteroscedasticity, and other types of mis-specification. Explaining how estimates can be obtained and tests can be carried out, the authors go beyond a mere algebraic description to one that can be easily translated into the commands of a standard econometric software package. Covering an unprecedented range of problems with a consistent emphasis on those that arise in applied work, this accessible and coherent guide to the most vital topics in econometrics today is indispensable for advanced students of econometrics and students of statistics interested in regression and related topics. It will also suit practising econometricians who want to update their skills. Flexibly designed to accommodate a variety of course levels, it offers both complete coverage of the basic material and separate chapters on areas of specialized interest.

Estimation and Inference in Econometrics

1 Introduction 2 Travel Demand 3 Costs 4 Pricing 5 Investment 6 Industrial Organization of Transportation Providers 7 Conclusion

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The economics of urban transportation

Empirical estimates of the direct rebound effect: A review

The Global Energy Assessment (GEA) brings together over 300 international researchers to provide an independent, scientifically based, integrated and policy-relevant analysis of current and emerging energy issues and options. It has been peer-reviewed anonymously by an additional 200 international experts. The GEA assesses the major global challenges for sustainable development and their linkages to energy; the technologies and resources available for providing energy services; future energy systems that address the major challenges; and the policies and other measures that are needed to realize transformational change toward sustainable energy futures. The GEA goes beyond existing studies on energy issues by presenting a comprehensive and integrated analysis of energy chalenges, opportunities and strategies, for developing, industrialized and emerging economies. This volume is a invaluable resource for energy specialists and technologists in all sectors (academia, industry and government) as well as policymakers, development economists and practitioners in international organizations and national governments.

Global Energy Assessment: Toward a Sustainable Future

This paper develops an analytical framework to assess the second-best optimal level of gasoline taxation taking into account unpriced pollution, congestion, and accident externalities, as well as interactions with the broader fiscal system. We provide calculations of the optimal taxes for the US and the UK under a variety of parameter scenarios. Under our central parameter values, the second-best optimal gasoline tax is $1.01/gal for the US and $1.34/gal for the UK. Current tax rates are much lower than this in the US and higher in the UK. The calculations are moderately sensitive to alternative parameter assumptions. The congestion externality is the largest component in both nations; revenue-raising needs also play a significant role, as do accident externalities and local air pollution. Potential welfare gains from reducing the current UK tax rate are estimated at nearly one-fourth the production cost of all gasoline used in the UK. Even larger gains could be achieved by switching to a tax on vehicle miles with equal revenue yield. For the US, the welfare gains from optimizing the gasoline tax are smaller, but those from switching to an optimal tax on vehicle miles are very large.

/pdf/does-britain-or-the-united-states-have-the-right-gasoline-4qqxyjz425.pdf

Does Britain or the United States Have the Right Gasoline Tax

It has long been realized that improving energy efficiency releases an economic reaction that partially offsets the original energy saving. As the energy efficiency of some process improves, the process becomes cheaper, thereby providing an incentive to increase its use. Thus total energy consumption changes less than proportionally to changes in physical energy efficiency. For motor vehicles, the process under consideration is use of fuel in producing vehicle-miles traveled (VMT). Our empirical specification is based on a simple aggregate model that simultaneously determines VMT, vehicles, and fuel efficiency. The coefficient on the lagged dependent variable implies considerable inertia in behavior, with people adjusting their travel in a given year by just 21 percent of the ultimate response to a permanent change. The equation exhibits only mild autocorrelation, giving people confidence that their specification accounts for most influences that move sluggishly over time.

/pdf/fuel-efficiency-and-motor-vehicle-travel-the-declining-2awyqrvbk0.pdf

Fuel efficiency and motor vehicle travel: the declining rebound effect

The goal of this paper is to bring some unity to the theoretical side of the debate on internalization of airport congestion by showing that all the literature's theoretical results can be derived within one simple and unified framework. The analysis starts by replicating the results of Brueckner (2002), who showed that, because airlines behaving in Cournot fashion internalize congestion, they should be charged low congestion tolls. The analysis then validates the findings of Daniel (1995), who argued that larger atomistic tolls are required in a model where a Stackelberg leader interacts with competitive fringe airlines. However, it is shown that this result only holds approximately when the carriers' outputs are imperfect substitutes.

Atomistic Congestion Tolls at Concentrated Airports: Seeking a Unified View in the Internalization Debate

Using a numerical model of the urban transportation sector, calibrated to data for Brussels and for London, we calculate the optimal transport price structure and its effect on the transport equilibrium and on welfare. Removing existing subsidies to transit and to parking, internalising transport externalities (mainly congestion) and optimising the frequency of transit service increases welfare by approximately 2%. Optimal prices are higher than current prices in most transport markets, so that optimal transport demand is below current demand. There is a strong shift to public transport in the peak period. Finally, calculations for Brussels of optimal public transport prices for unchanged reference car taxes indicate that only limited welfare gains can be obtained by charging near-zero transit fares in peak hours.

Optimal urban transport pricing in the presence of congestion, economies of density and costly public funds

This timely book deals with the problem of pricing passenger and freight transportation within Europe. The contributors argue that current legislation affecting pricing and regulation is increasingly less successful in dealing with market failures and externalities such as congestion, air pollution, noise and accidents. Technological progress and greater European co-operation has brought increased scope for the reform of transport policies.

The external costs of transport

https://www.economics.uci.edu/files/docs/workingpapers/2004-05/VanDender-11.pdf

Kurt Van Dender

Papers

Fuel efficiency and motor vehicle travel: the declining rebound effect

Atomistic Congestion Tolls at Concentrated Airports: Seeking a Unified View in the Internalization Debate

Optimal urban transport pricing in the presence of congestion, economies of density and costly public funds

The external costs of transport

Prices, capacities and service levels in a congestible Bertrand duopoly☆