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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
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 ...