Table 5 Estimated Short-Term and Long-Term Elasticities1
Table 5
Estimated Short-Term and Long-Term Elasticities1
| 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.