Measuring unobserved prices using the structural time-series model: The case of cycling

David Broadstock and Alan Collins

Transportation Research Part A: Policy and Practice, 2010, vol. 44, issue 4, 195-200

Abstract: This study presents a means of determining a historic (generalised cost based) price index for cycling in the UK for the period 1949-2006 using annual demand data. By specifying demand as a function of generalised price and income and then applying a structural time-series model to elucidate the unobserved component of prices (while controlling for observed income levels), it is illustrated that the role of prices in influencing demand is non-trivial. Over the sample period price responses generally influence demand for cycling to a greater extent than income effects.

Keywords: Cycling; Unobserved; prices; Structural; time-series; modelling (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (2)

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