GTAP Resources: Resource Display
| GTAP Resource #4088 |
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"Public Transportation Capital in the US: A Multimodal General Equilibrium Analysis" by Chen, Zhenhua and Kingsley Haynes Abstract This paper introduces a new general equilibrium approach to evaluate economic impact of public transport stock in the US. By treating public transport capital as separated factor accounts, the model enables us to assess the economic impact of public transport stock for four modes: road, air, transit, and water transport. This study differs from previous studies in the following ways: First, a general equilibrium analysis with a focus on multimodal transport capital is established. Each mode is treated as an individual sector together with other seven other non-transport sectors. Second, unlike existing transport CGE models that only enable policy experiments through transport cost or total factor productivity, our general equilibrium model allows for a direct assessment of public transport capital through the shock of the separated public capital accounts in the US social accounting matrix(SAM). Third, the model is implemented based on a data base built from the GTAP8 and the Bureau of Economic Analysis (BEA). This makes our model differ from other theoretical CGE models in having realistic, significant and practical implications. The GTAP8 database is adopted as the foundation for creating the US SAM. Non-transport sectors are grouped into seven industrial sectors, including agriculture, manufacture, utility and construction, trade, information, warehousing and service. Based on GTAP8 and the BEA 2007 annual I-O table, transport sectors are disaggregated into six sectors, including truck, rail, air, transit, pipeline and water. In our model four transport sectors that involve public capital endowments are considered differently to other sectors. The ratios of public capital for road, air, transit and water are calculated based on the information of the national fixed assets from BEA. Since the original capital account in GTAP8 Database includes the entire capital stock in the economy, values of public capital for road, air, transit and water can be calcula... |
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- Calibration and parameter estimation - Economic growth - North America |
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Public Access  GTAP Resource 4088 (188.8 KB) Replicated: 0 time(s)Restricted Access No documents have been attached. Special Instructions No instructions have been specified. |
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Last Modified: 9/15/2023 1:05:45 PM
