In this paper we provide estimates of the effects of international transport costs on firms’ exports and disentangle the channels of these effects. In so doing, we use a unique dataset consisting of highly disaggregated transaction-level trade and transport cost data and, in order to account...

This paper provides a broad overview of policy goals and instruments and commonly used performance and policy indicators related to land transport. Two policy aspects, infrastructure investment and externalities, are explored in more depth. A review of planning and decision making in individual...

The aim of this note is to introduce the special issue on "Mega-projects and regional development in the Italian experience" and to review some of the critical issues associated with the evaluation of mega-projects. In particular, we focus on the shortcomings of Cost-Benefit Analysis when the...

Standard cost-benefit analysis (CBA) does not take into account induced demand due to relocation triggered by infrastructure investments. Using an integrated transport and land-use model calibrated for the Stockholm region, we explore whether this has any significant impact on the CBA outcome,...

We modify a method recently suggested by Weitzman (2012, 2013) for determining a risk-adjusted social discount rate (SDR) term structure consistent with both the (augmented) Ramsey rule and the consumption-based CAPM. Using this approach we estimate SDR for transportation infrastructure...

This paper discusses some problems in determining the optimal use of road safety measures. The first of these problems is how best to define the baseline option, i.e. what will happen if no new safety measures are introduced. The second problem concerns choice of a method for selection of...

Cost-benefit analysis has become a widely used and well developed tool for evaluation of suggested transport projects. This paper presents our view of the role and position of CBA in a transport planning process, partly based on a survey of a number of countries where CBA plays a formalised role...

This paper first considers the role of appraisal in rail systems, and shows how this extends far beyond simply appraising investment projects to considering long run strategy, renewals, quality of service and closures. It then discusses the particular issues which make rail appraisals complex,...

Evaluating the impact of transport infrastructure meets a major challenge since rail lines are not randomly located. We use the natural experiment offered by the opening and progressive extension of the Regional Express Rail (RER) between 1970 and 2000 in the Paris metropolitan region, and in...