How large are road traffic externalities in the city? The highway tunneling in Maastricht, the Netherlands
Joep Tijm (),
Peter Zwaneveld () and
Raoul van Maarseveen
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Joep Tijm: CPB Netherlands Bureau for Economic Policy Analysis
Thomas Michielsen: CPB Netherlands Bureau for Economic Policy Analysis
Peter Zwaneveld: CPB Netherlands Bureau for Economic Policy Analysis
CPB Discussion Paper from CPB Netherlands Bureau for Economic Policy Analysis
Infrastructure projects are increasingly aiming to improve liveability, in particular in urban areas. We analyse a specifi c case in which an existing highway in an urban area was moved underground in order to improve intercity traffic flows and to reduce traffic externalities. As travel times within the city hardly changed, this allows for a clean identifi cation of the value of traffic externalities. We find that the liveability bene fits of such integrated infrastructure are substantial relative to the construction costs. Each halving of distance to the tunneled segment is associated with 3.5% more appreciation in house prices since the start of the project.
JEL-codes: R12 J24 J31 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:cpb:discus:379
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