Price elasticity of demand for urban public transport: An analysis for bus and underground services of the Autonomous City of Buenos Aires
This paper estimates the demand elasticity of two urban public transport services within the limits of the City of Buenos Aires, i.e., underground subway services and buses whose entire route runs within the boundaries of the city. I use a monthly database from 1993 until 2013 and, by using two diff...
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| Format: | Online |
| Language: | spa |
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Facultad de Ciencias Económicas. Instituto de Economía y Finanzas
2016
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| Online Access: | https://revistas.unc.edu.ar/index.php/acteconomica/article/view/14877 |
| _version_ | 1811172295120519168 |
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| author | Montalvo, Jerónimo |
| author_facet | Montalvo, Jerónimo |
| author_sort | Montalvo, Jerónimo |
| collection | Portal de Revistas |
| description | This paper estimates the demand elasticity of two urban public transport services within the limits of the City of Buenos Aires, i.e., underground subway services and buses whose entire route runs within the boundaries of the city. I use a monthly database from 1993 until 2013 and, by using two different methodologies –dynamic models and cointegration and error correction models–, different regressions are analyzed to find the short and long-term coefficients, with particular emphasis on price-elasticities of the two demands. Consistent with the literature review, I find inelastic demands with long-term coefficients higher than short ones. In the case of the subway, where more explanatory variables are available, both econometric methods generate negative own price-elasticities between 0.1 and 0.2. Meanwhile, regarding buses, where the estimation is more difficult, the demand reacts more slowly to changes in prices, which is shown by larger differences between short and long-term estimates, even though the latter are close to what international experience shows (-0.5). |
| format | Online |
| id | oai:ojs.revistas.unc.edu.ar:article-14877 |
| institution | Universidad Nacional de Cordoba |
| language | spa |
| publishDate | 2016 |
| publisher | Facultad de Ciencias Económicas. Instituto de Economía y Finanzas |
| record_format | ojs |
| spelling | oai:ojs.revistas.unc.edu.ar:article-148772021-03-11T15:50:08Z Price elasticity of demand for urban public transport: An analysis for bus and underground services of the Autonomous City of Buenos Aires Elasticidad-precio de la demanda del transporte público urbano: un análisis para los servicios de ómnibus y subterráneo de la Ciudad Autónoma de Buenos Aires Montalvo, Jerónimo elasticidad demanda transporte público Ciudad Autónoma de Buenos Aires. C5 R40 Elasticity demand public transport City of Buenos Aires. C5 R40 This paper estimates the demand elasticity of two urban public transport services within the limits of the City of Buenos Aires, i.e., underground subway services and buses whose entire route runs within the boundaries of the city. I use a monthly database from 1993 until 2013 and, by using two different methodologies –dynamic models and cointegration and error correction models–, different regressions are analyzed to find the short and long-term coefficients, with particular emphasis on price-elasticities of the two demands. Consistent with the literature review, I find inelastic demands with long-term coefficients higher than short ones. In the case of the subway, where more explanatory variables are available, both econometric methods generate negative own price-elasticities between 0.1 and 0.2. Meanwhile, regarding buses, where the estimation is more difficult, the demand reacts more slowly to changes in prices, which is shown by larger differences between short and long-term estimates, even though the latter are close to what international experience shows (-0.5). En este trabajo se estiman distintas elasticidades de la demanda del transporte público urbano, específicamente de los servicios de subterráneo y ómnibus que realizan su recorrido dentro de la Ciudad Autónoma de Buenos Aires (CABA). Para ello se utiliza una base de datos con periodicidad mensual entre los años 1993-2013 y, mediante el uso de dos metodologías diferentes –modelos dinámicos y el de cointegración y modelos de corrección de errores, se estiman– los coeficientes de corto y largo plazo, haciendo hincapié en las elasticidades-precio de la demanda de cada servicio. En línea con estudios existentes, se encuentran demandas inelásticas con coeficientes de largo plazo mayores a los corto plazo. En el caso del subte, donde fue posible utilizar más variables explicativas, ambos métodos de estimación arrojan valores que rondan una elasticidad-precio negativa entre 0,1 y 0,2. Por su parte, en relación al ómnibus, con más dificultades de estimación, la velocidad de ajuste de la demanda a su propio precio es mucho menor, implicando mayores diferencias entre las elasticidades de corto y largo plazo, si bien los valores estimados de estas últimas son cercanos a los estimados en la experiencia internacional (-0,5). Facultad de Ciencias Económicas. Instituto de Economía y Finanzas 2016-07-16 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Articles Artículos application/pdf https://revistas.unc.edu.ar/index.php/acteconomica/article/view/14877 Actualidad Económica; Vol. 26 No. 88 (2016): January-April; 7-19 Actualidad Económica; Vol. 26 Núm. 88 (2016): Enero - Abril; 7-19 2250-754X 0327-585X spa https://revistas.unc.edu.ar/index.php/acteconomica/article/view/14877/14839 |
| spellingShingle | elasticidad demanda transporte público Ciudad Autónoma de Buenos Aires. C5 R40 Elasticity demand public transport City of Buenos Aires. C5 R40 Montalvo, Jerónimo Price elasticity of demand for urban public transport: An analysis for bus and underground services of the Autonomous City of Buenos Aires |
| title | Price elasticity of demand for urban public transport: An analysis for bus and underground services of the Autonomous City of Buenos Aires |
| title_alt | Elasticidad-precio de la demanda del transporte público urbano: un análisis para los servicios de ómnibus y subterráneo de la Ciudad Autónoma de Buenos Aires |
| title_full | Price elasticity of demand for urban public transport: An analysis for bus and underground services of the Autonomous City of Buenos Aires |
| title_fullStr | Price elasticity of demand for urban public transport: An analysis for bus and underground services of the Autonomous City of Buenos Aires |
| title_full_unstemmed | Price elasticity of demand for urban public transport: An analysis for bus and underground services of the Autonomous City of Buenos Aires |
| title_short | Price elasticity of demand for urban public transport: An analysis for bus and underground services of the Autonomous City of Buenos Aires |
| title_sort | price elasticity of demand for urban public transport an analysis for bus and underground services of the autonomous city of buenos aires |
| topic | elasticidad demanda transporte público Ciudad Autónoma de Buenos Aires. C5 R40 Elasticity demand public transport City of Buenos Aires. C5 R40 |
| topic_facet | elasticidad demanda transporte público Ciudad Autónoma de Buenos Aires. C5 R40 Elasticity demand public transport City of Buenos Aires. C5 R40 |
| url | https://revistas.unc.edu.ar/index.php/acteconomica/article/view/14877 |
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