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Working Paper
Multimodal Transport Networks
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 ...
Working Paper
Multimodal Transport Networks
The movement of goods from origin to destination takes place over multiple modes of transportation. Correspondingly, intermodal terminals play an important role in facilitating transportation over the multimodal network. This paper studies multimodal transport networks and their impact on infrastructure investments. We propose a tractable theory of transportation across domestic transportation networks with multiple modes of transportation by embedding multimodal routes into a spatial equilibrium model with endogenous stochastic route choice. We calibrate the model to US domestic freight ...
Working Paper
Evaluating Transportation Improvements Quantitatively: A Primer
How do we evaluate the welfare gains from transportation infrastructure investment? We present a quantitative spatial framework that integrates both traffic and economic responses to infrastructure investment and derive the elasticity of aggregate welfare to improvements in the transportation network. This approach extends the traditional "social savings" method to incorporate agglomeration and dispersion externalities and endogenous traffic congestion. We calibrate the model to the US freight transport network and assess the welfare impact of upgrading segments of the US Interstate Highway ...