Autonomous vehicle (AV) technologies lower the private cost of driving, leading to induced demand for road use at peak times. Because adoption is likely to skew towards higher-income commuters, we show that the congestion externalities exacerbated by adoption are likely to be experienced...

This paper studies road safety and accident externalities when insurance companies have market power, and can influence road users' driving behaviour via insurance premiums. We obtain both welfare and profit maximizing marginal conditions for first- and second-best insurance premiums for...

Secretary of Transportation Pete Buttigieg’s proposal to make the United States a “world leader” in high‐​speed rail would add more than $4 trillion to the federal debt for construction of new rail lines plus tens of billions of dollars of annual deficit spending to subsidize operating...

Dense urban areas are especially hardly hit by the COVID-19 crisis due to the limited availability of public transport, one of the most efficient means of mass mobility. In light of the COVID-19 pandemic, public transport operators are experiencing steep declines in demand and fare revenues due...

The large cities in the US are the most expensive places to live. Paradoxically, this cost is disproportionately paid by workers who could work remotely, and live anywhere. The greater potential for remote work in large cities is mostly accounted for by their specialization in skill- and...

Die Corona-Krise hat einen Strukturwandel initiiert: Die Arbeitsorganisation hat sich in Richtung Homeoffi ce verschoben. Der Online-Handel hat hohe Wachstumsraten zu verzeichnen. Auch andere Wirtschaftsbereiche, die stärker die Digitalisierung nutzen können und diese Potenziale auch...

The COVID-19 crisis may have widely and permanently altered the labor market through the demand for skills. Crises tend to accelerate technological change. Previous recent crises were characterized by an acceleration of automation, which generally led to a decrease in middle-income jobs with...