Multimodal Transport Networks

Woan Foong Wong and Simon Fuchs

No 2022-13, FRB Atlanta Working Paper from Federal Reserve Bank of Atlanta

Abstract: We examine the economic and environmental impacts of improvements and disruptions in multimodal transport networks. Our quantitative spatial equilibrium model incorporates routing over multiple modes and congestion at intermodal terminals. We estimate a modal substitution elasticity with highway and rail data and a terminal congestion elasticity with vessel-positioning data. Calibrated to the US freight network, our model identifies key bottlenecks and quantifies $300 million–$700 million in additional real GDP gains from intermodal terminal improvements. These gains are 2.5 times higher without congestion, and substitution away from roads yields additional environmental benefits. Losing rail network access, factoring in modal substitution and general equilibrium effects, is estimated to reduce real GDP by $230 billion.

Keywords: multimodal transport; transport network; spatial equilibrium; endogenous transport costs; infrastructure investments; disruptions; bottlenecks (search for similar items in EconPapers)
JEL-codes: F11 R12 R42 (search for similar items in EconPapers)
Pages: 93 pages
Date: 2022-10-05, Revised 2024-10
New Economics Papers: this item is included in nep-net, nep-tre and nep-ure
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Related works:
Working Paper: Multimodal Transport Networks (2024)
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DOI: 10.29338/wp2022-13

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