Trends in income and price elasticities of transport demand (1850–2010)
Roger Fouquet
Energy Policy, 2012, vol. 50, issue C, 62-71
Abstract:
The purpose of this paper is to estimate trends in income and price elasticities and to offer insights for the future growth in transport use, with particular emphasis on the impact of energy and technological transitions. The results indicate that income and price elasticities of passenger transport demand in the United Kingdom were very large (3.1 and −1.5, respectively) in the mid-nineteenth century, and declined since then. In 2010, long run income and price elasticity of aggregate land transport demand were estimated to be 0.8 and −0.6. These trends suggest that future elasticities related to transport demand in developed economies may decline very gradually and, in developing economies, where elasticities are often larger, they will probably decline more rapidly as the economies develop. Because of the declining trends in elasticities, future energy and technological transitions are not likely to generate the growth rates in energy consumption that occurred following transitions in the nineteenth century. Nevertheless, energy and technological transitions, such as the car and the airplane, appear to have delayed and probably will delay declining trends in income and price elasticity of aggregate transport demand.
Keywords: Income and price elasticities of demand for transport; Energy transitions; Rebound effects (search for similar items in EconPapers)
Date: 2012
References: Add references at CitEc
Citations: View citations in EconPapers (32)
Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0301421512002066
Full text for ScienceDirect subscribers only
Related works:
Working Paper: Trends in Income and Price Elasticities of Transport Demand (1850-2010) (2012)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:50:y:2012:i:c:p:62-71
DOI: 10.1016/j.enpol.2012.03.001
Access Statistics for this article
Energy Policy is currently edited by N. France
More articles in Energy Policy from Elsevier
Bibliographic data for series maintained by Catherine Liu (repec@elsevier.com).