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General Equilibrium Analysis of the Benefits of Large Transportation Improvements


  • Yoshitsugu Kanemoto
  • Koichi Mera


This paper examines three benefit measures of a large transportation improvement in a general equilibrium framework. Three issues are analyzed. The first is whether the measures can be reduced to the area to the left of a suitably defined transportation demand curve. Second, the measures are expressed as functions of price and income elasticities which can be estimated empirically. Third, the general and partial measures are compared.

Suggested Citation

  • Yoshitsugu Kanemoto & Koichi Mera, 1984. "General Equilibrium Analysis of the Benefits of Large Transportation Improvements," Working Papers 567, Queen's University, Department of Economics.
  • Handle: RePEc:qed:wpaper:567

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    References listed on IDEAS

    1. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth through Creative Destruction," Econometrica, Econometric Society, vol. 60(2), pages 323-351, March.
    2. Gadi Barlevy, 2004. "The Cost of Business Cycles Under Endogenous Growth," American Economic Review, American Economic Association, vol. 94(4), pages 964-990, September.
    3. Francois, Patrick & Shi, Shouyong, 1999. "Innovation, Growth, and Welfare-Improving Cycles," Journal of Economic Theory, Elsevier, vol. 85(2), pages 226-257, April.
    4. Shleifer, Andrei, 1986. "Implementation Cycles," Journal of Political Economy, University of Chicago Press, vol. 94(6), pages 1163-1190, December.
    5. Storesletten, Kjetil & Telmer, Chris I. & Yaron, Amir, 2001. "The welfare cost of business cycles revisited: Finite lives and cyclical variation in idiosyncratic risk," European Economic Review, Elsevier, vol. 45(7), pages 1311-1339.
    6. Douglas Gale, 1996. "Delay and Cycles," Review of Economic Studies, Oxford University Press, vol. 63(2), pages 169-198.
    7. Gadi Barlevy, 2004. "The Cost of Business Cycles and the Benefits of Stabilization: A Survey," NBER Working Papers 10926, National Bureau of Economic Research, Inc.
    8. Patrick Francois & Huw Lloyd-Ellis, 2009. "Schumpeterian Business Cycles with Pro-Cyclical R&D," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 12(4), pages 567-591, October.
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    Cited by:

    1. Behrens, Kristian & Kanemoto, Yoshitsugu & Murata, Yasusada, 2015. "The Henry George Theorem in a second-best world," Journal of Urban Economics, Elsevier, vol. 85(C), pages 34-51.
    2. Se-il Mun & Shintaro Nakagawa, 2008. "Cross-border transport infrastructure and aid policies," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 42(2), pages 465-486, June.
    3. Yoshitsugu Kanemoto, 2011. "Surplus Theory," Chapters,in: A Handbook of Transport Economics, chapter 20 Edward Elgar Publishing.
    4. Calthrop, Edward & De Borger, Bruno & Proost, Stef, 2010. "Cost-benefit analysis of transport investments in distorted economies," Transportation Research Part B: Methodological, Elsevier, vol. 44(7), pages 850-869, August.
    5. Melendez-Hidalgo, Jose & Rietveld, Piet & Verhoef, Erik, 2007. "On the change in surpluses equivalence: measuring benefits from transport infrastructure investments," European Transport \ Trasporti Europei, ISTIEE, Institute for the Study of Transport within the European Economic Integration, issue 36, pages 107-140.
    6. Bruinsma, F. & Nijkamp, P. & Rietveld, P., 1990. "Infrastructure and metropolitan development in an international perspective : survey and methodological exploration," Serie Research Memoranda 0056, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    7. Ueda, Takayuki & Koike, Atsushi & Yamaguchi, Katsuhiro & Tsuchiya, Kazuyuki, 2005. "Spatial Benefit Incidence Analysis of Airport Capacity Expansion: Application of SCGE Model to the Haneda Project," Research in Transportation Economics, Elsevier, vol. 13(1), pages 165-196, January.
    8. Tatsuhito Kono & Hisa Morisugi & Fumi Miyahara, 2007. "Congestion deterioration and transportation project evaluation," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 41(1), pages 145-170, March.
    9. Mun, Se-il, 1997. "Transport Network and System of Cities," Journal of Urban Economics, Elsevier, vol. 42(2), pages 205-221, September.
    10. Kanemoto, Yoshitsugu, 2013. "Second-best cost–benefit analysis in monopolistic competition models of urban agglomeration," Journal of Urban Economics, Elsevier, vol. 76(C), pages 83-92.
    11. repec:eee:matsoc:v:91:y:2018:i:c:p:25-35 is not listed on IDEAS
    12. repec:eee:retrec:v:63:y:2017:i:c:p:38-49 is not listed on IDEAS
    13. Yoshitsugu Kanemoto, 2013. "Pitfalls in estimating “wider economic benefits” of transportation projects," GRIPS Discussion Papers 13-20, National Graduate Institute for Policy Studies.
    14. Kanemoto, Yoshitsugu, 2013. "Evaluating benefits of transportation in models of new economic geography," Economics of Transportation, Elsevier, vol. 2(2), pages 53-62.

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