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http://dx.doi.org/10.7470/jkst.2012.30.2.007

Estimating Elasticities of Car Travel Demand Using Pseudo-Panel Data  

Han, Sang-Yong (Division of International Studies, Dongseo University)
Lee, Jai-Min (School of Economics and Trade, Kyungpook National University)
Kim, Tae-Seung (Asia Pacific School of Logistics, Inha University)
Publication Information
Journal of Korean Society of Transportation / v.30, no.2, 2012 , pp. 7-20 More about this Journal
Abstract
The objective of this paper is to construct pseudo-panel data set and estimate price and income elasticities of car travel demand, using 1995-2007 household income and expenditure survey data, in order to provide quantitative information for analyzing related policy effects in the transport sector. We categorized household survey data into 14 cohorts based on the birth year of the household head. As the result, a total of 133 pseudo-panel data sets was created for estimating price and income elasticities of car travel demand. Especially, price and income elasticities of car travel demand were separately estimated both short-term and long-term. We analyzed the panel model considering fixed effect within cohorts, using explanatory variables such as previous year's fuel consumption, real household income after tax, education level of the household head, the number of children under five, and the share of household type averaged by cohorts. As results, the short-term and long-term price elasticities of car travel demand were calculated as 0.2974-0.4280 and 0.4087-0.6275, respectively. Similarly, the short-term and long-term income elasticities were calculated as 0.3364-0.6281 and 0.7098, respectively.
Keywords
Car Travel Demand; Price Elasticity; Income Elasticity; Pseudo-Panel Data; Household Income and Expenditure Survey;
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Times Cited By KSCI : 1  (Citation Analysis)
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