Does Congestion Pricing Affect the “Transit Premium”? : Evidence from Singapore
Much of the existing urban and transportation economics literature discusses the hedonic impacts of proximity to transit and those of congestion pricing as seemingly unrelated phenomena. Using Singapore’s cordon toll model, which has been in place since 1998, this paper tests whether a congestion rate hike that went into effect November 1st, 2010 can model how an exogenous shock would affect the “premium” that is paid for a property closer to transit outside the affected cordon areas. Using a differences-in-differences approach with data on residential real estate transactions in 2010 and 2011, there is evidence of a modest increase in the transit premium outside the cordon following the November 1, 2010 toll increase, although this effect exhibits a high degree of geographic dispersion based in properties’ location relative to the cordon boundary
Year of publication: |
2022
|
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Authors: | Bernal, Henry |
Publisher: |
[S.l.] : SSRN |
Subject: | Singapur | Singapore | Maut | Road pricing | Engpass | Bottleneck |
Saved in:
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