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Evaluating urban transport improvements: cost benefit analysis in the presence of agglomeration and income taxation

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There is a substantial empirical literature quantifying the positive relationship between city size and productivity. The paper draws out the implications of this productivity relationship for evaluations of urban transport improvements. A theoretical model is developed and used to derive a wider cost-benefit measure that includes productivity effects. The order of magnitude of such effects is illustrated by calculations in a simple computable equilibrium model. It is argued tht productivity effects, particularly when combined with distortionary taxation, are quantitatively important, substantially increasing the gains that are created by urban transport improvements.

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en

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application/pdf

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http://eprints.lse.ac.uk/2205/1/Evaluating_Urban_Transport_Improvements_Cost_Benefit_Analysis_in_the_Presence_of_Agglomeration_and_Income_Taxation.pdf

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