Table 5 Estimated Short-Term and Long-Term Elasticities1

Table 5
Estimated Short-Term and Long-Term Elasticities1

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Variable Short-term elasticity t-statistic Long-term elasticity t-statistic
GDP elasticity 0.890 21.76 1.405 27.85
Gasoline price elasticity –0.337 –22.01 –0.531 –18.50
Toll elasticity group 1 –0.209 –11.81 –0.330 –11.42
Toll elasticity group 2 –0.371 –25.25 –0.585 –21.71
Toll elasticity group 3 –0.445 –19.80 –0.702 –17.66
Toll elasticity group 4 –0.828 –9.82 –1.307 –9.81

1 Group 1 includes 21 sections; group 2, 25 sections; group 3, 21 sections; and group 4, 5 sections.