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Efficiency of road pricing schemes with endogenous workplace locations in a polycentric city

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Efficiency_of_road_pricing_schemes_with_endogenous_workplace_in_polycentric_city_(Gat?)_2019.pdf (1.326Mb)
Date
2019
Publisher city
Rennes
Collection title
Working papers CREM
Link to item file
https://halshs.archives-ouvertes.fr/CREM-RRC/halshs-02335766v1
Dewey
Croissance et développement économiques
Sujet
Polycentric city; Second-best policies; Congestion; Welfare; Urban land use
JEL code
R.R1.R13; R.R1.R14; R.R2.R21; R.R4.R41; R.R4.R48
URI
https://basepub.dauphine.fr/handle/123456789/20299
Collections
  • LEDa : Publications
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Author
Gaté, Romain
163511 Laboratoire d'Economie de Dauphine [LEDa]
Type
Document de travail / Working paper
Item number of pages
46
Abstract (EN)
This paper aims to measure the efficiency of different road pricing schemes (Pigouvian tax, flat tax and cordon toll) to address congestion externalities when the locations of jobs and dwellings within a city are endogenous. The model captures the fact that commuters face a trade-off between taking advantage of the wage premium in the Central Business District (CBD) and being stuck in traffic. I find that the Pigouvian tax strategy is not a social optimum due to the presence of two market failures in the urban economy: congestion and misallocation of jobs within the city. A Pigouvian tax on commuters cannot solve two different problems simultaneously, namely, reducing the congestion level given the locations of jobs and reaching the optimal spatial allocation of firms. Without regulation, the number of jobs in the CBD is too high (and the congestion cost is excessive), while the Pigouvian tax generates a CBD that is too small. In addition, a flat tax is not necessarily worse than a Pigouvian tax, in contrast to the cordon toll.

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