Evaluating on-street parking policy

Edward Calthrop ()
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Edward Calthrop: K.U.Leuven, C.E.S., Energy, Transport and Environment

Energy, Transport and Environment Working Papers Series from KU Leuven, Department of Economics - Research Group Energy, Transport and Environment

Abstract: This paper uses a formal model to examine the welfare gains from a marginal increase in the price of on-street parking. The benefits of such a policy are shown to depend on the improvement in search externalities in the on-street parking market itself, plus effects on other distorted urban transport markets, including congested freeway and backroad use, mass-transit and off-street parking. The paper makes two further contributions. The model is sufficiently general that several well-known results from the parking literature emerge as special cases. The model is used to review the existing literature and highlights findings in separate parts of literature. Finally, a numerical simulation model is used to investigate the order of magnitude of an optimal urban parking fee. In particular, these results confirm the importance of taking into accounts effects on other distorted transport markets when deciding upon the level of the price for on-street parking. The model confirms that while parking pricing reform may lead to substantial improvements in parking search times, there is little overall impact on road congestion levels.

JEL-codes: R48 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2002-05
New Economics Papers: this item is included in nep-mic
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Persistent link: https://EconPapers.repec.org/RePEc:ete:etewps:ete0203

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