Directional imbalance of freight rates : evidence from Japanese inter-prefectural data
By analyzing a comprehensive dataset on transport transactions in Japan, we describe a directional imbalance in freight rates by transport mode and examine its potential sources, such as economies of density and directionally imbalanced transport flow. There are certain numbers of observed links which show asymmetric transport costs. Instrumental variable analysis is used to show that economies of density account for deviation from symmetric freight rates between prefectures. Our results show that a 10% increase in outbound transport flow relative to inbound transport flow leads to a 2.1% decrease in outbound freight rate relative to inbound freight rate.
|Date of creation:||01 Jan 2014|
|Publication status:||Published in IDE Discussion Paper = IDE Discussion Paper, No. 441. 2014-01-01|
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- Takahashi, Takaaki, 2011. "Directional imbalance in transport prices and economic geography," Journal of Urban Economics, Elsevier, vol. 69(1), pages 92-102, January.
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- BEHRENS, Kristian & GAIGNE, Carl, "undated". "Density (dis)economies in transportation: revisiting the core-periphery model," CORE Discussion Papers RP 1944, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Michael P. Murray, 2006. "Avoiding Invalid Instruments and Coping with Weak Instruments," Journal of Economic Perspectives, American Economic Association, vol. 20(4), pages 111-132, Fall. Full references (including those not matched with items on IDEAS)
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