Chicken or egg? the PVAR econometrics of transportation
Kristoffer Moeller and
Nicolai Wendland ()
LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library
To analyse the mutually dependent relationship between local economic performance, de- mand for and supply of transport services, we employ the structural panel VAR method that is popular in the macroeconomic literature, but has not previously been applied to the modelling of the within-city dynamics of transportation. We focus on a within-city panel of Berlin, Germany during the heyday of the construction of its dense public transit network (1890–1914). Our results suggest that economic out- comes and a supply of transport infrastructure mutually determine each other. We find a short-run (long-run) elasticity of property prices with respect to transport supply of 2% (8.5%). Both transport demand and supply seem to be driven more by firms than by residents.
Keywords: transport; land use; Berlin; history; panel vector autoregression (search for similar items in EconPapers)
JEL-codes: N73 N74 R12 R14 R41 (search for similar items in EconPapers)
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Published in Journal of Economic Geography, 2014, 15(6), pp. 1169-1193. ISSN: 1468-2702
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Journal Article: Chicken or egg? The PVAR econometrics of transportation (2015)
Working Paper: Chicken or Egg? The PVAR Econometrics of Transportation (2014)
Working Paper: Chicken or egg? the PVAR econometrics of transportation (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:59205
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