DEMAND FOR PUBLIC AND PRIVATE PASSENGER TRANSPORT IN THE UNITED STATES

Abstract

This paper explores the structural change of passenger traffic across modes in the US over a 40 year period, suggesting that the demand did slow down during energy crises, which is consistent with the slow growth in income and the sharp increase in the cost of transportation. During the period the share of the public transport has increased relative to private transport, the gain mainly due to the growth in air passenger traffic which increased at the rate of 8.17% per annum compared to an overall rate of 2.31% per annum. The value of the various elasticities were lower for private passenger transport compared to public passenger transport. Statistically, the estimated equations satisfy the various tests; on the basis of these tests, it may be said that the estimated functions are stable and no relevant variable is omitted from these functions. (A)

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