Table B1 Estimated General Model
Table B1
Estimated General Model
Dependent variable: D(LTRAFFIC)
Estimation method: weighted least squares
Total system (unbalanced) observations: 990
| Coefficient | Std. error | t-statistic | P-value | |
|---|---|---|---|---|
| D(LGDP) | 0.8942 | 0.0410 | 21.8117 | 0.0000 |
| D(LPGAS) | –0.3369 | 0.0157 | –21.4261 | 0.0000 |
| D(LTRAFFIC(-1)) | 0.3642 | 0.0160 | 22.6942 | 0.0000 |
| D(LTOLL1) | –0.0371 | 0.2279 | –0.1626 | 0.8709 |
| D(LTOLL2) | –0.2754 | 0.2630 | –1.0471 | 0.2954 |
| D(LTOLL3) | –0.2338 | 0.2631 | –0.8886 | 0.3745 |
| D(LTOLL4) | –0.3237 | 0.2548 | –1.2704 | 0.2043 |
| D(LTOLL5) | –0.1799 | 0.2101 | –0.8565 | 0.3920 |
| D(LTOLL6) | –0.4766 | 0.1451 | –3.2853 | 0.0011 |
| D(LTOLL7) | –0.4758 | 0.1274 | –3.7354 | 0.0002 |
| D(LTOLL8) | –0.4630 | 0.1362 | –3.3982 | 0.0007 |
| D(LTOLL9) | –0.2811 | 0.1296 | –2.1689 | 0.0304 |
| D(LTOLL10) | –0.4903 | 0.1258 | –3.8977 | 0.0001 |
| D(LTOLL11) | –0.4512 | 0.1157 | –3.9003 | 0.0001 |
| D(LTOLL12) | –0.5876 | 0.1893 | –3.1042 | 0.0020 |
| D(LTOLL13) | –0.3588 | 0.1705 | –2.1048 | 0.0356 |
| D(LTOLL14) | –0.3555 | 0.2371 | –1.4994 | 0.1341 |
| D(LTOLL15) | –0.1118 | 0.1281 | –0.8725 | 0.3832 |
| D(LTOLL16) | –0.3144 | 0.1504 | –2.0901 | 0.0369 |
| D(LTOLL17) | –0.0580 | 0.1998 | –0.2902 | 0.7717 |
| D(LTOLL18) | –0.1894 | 0.1477 | –1.2828 | 0.1999 |
| D(LTOLL19) | –0.3475 | 0.2299 | –1.5118 | 0.1309 |
| D(LTOLL20) | –0.3417 | 0.1964 | –1.7398 | 0.0822 |
| D(LTOLL21) | –0.4309 | 0.2585 | –1.6672 | 0.0958 |
| D(LTOLL22) | –0.3609 | 0.4125 | –0.8748 | 0.3819 |
| D(LTOLL23) | –0.1517 | 0.0422 | –3.5972 | 0.0003 |
| D(LTOLL24) | –0.1716 | 0.0390 | –4.4061 | 0.0000 |
| D(LTOLL25) | –0.1815 | 0.0456 | –3.9764 | 0.0001 |
| D(LTOLL26) | –0.2204 | 0.0629 | –3.5052 | 0.0005 |
| D(LTOLL27) | –0.2831 | 0.0827 | –3.4209 | 0.0007 |
| D(LTOLL28) | –0.2653 | 0.0608 | –4.3657 | 0.0000 |
| D(LTOLL29) | –0.3136 | 0.0413 | –7.5963 | 0.0000 |
| D(LTOLL30) | –0.4182 | 0.0646 | –6.4717 | 0.0000 |
| D(LTOLL31) | –0.4387 | 0.0534 | –8.2101 | 0.0000 |
| D(LTOLL32) | –0.4062 | 0.0465 | –8.7398 | 0.0000 |
| D(LTOLL33) | –0.3620 | 0.0537 | –6.7361 | 0.0000 |
| D(LTOLL34) | –0.3915 | 0.0414 | –9.4648 | 0.0000 |
| D(LTOLL35) | –0.3447 | 0.0342 | –10.0812 | 0.0000 |
| D(LTOLL36) | –0.3582 | 0.1184 | –3.0254 | 0.0026 |
| D(LTOLL37) | –0.3701 | 0.0445 | –8.3134 | 0.0000 |
| D(LTOLL38) | –0.3904 | 0.0512 | –7.6203 | 0.0000 |
| D(LTOLL39) | –0.3992 | 0.0489 | –8.1651 | 0.0000 |
| D(LTOLL40) | –0.5231 | 0.2504 | –2.0892 | 0.0370 |
| D(LTOLL41) | –0.4556 | 0.2466 | –1.8476 | 0.0650 |
| D(LTOLL42) | –0.4489 | 0.1657 | –2.7082 | 0.0069 |
| D(LTOLL43) | –0.4662 | 0.2451 | –1.9018 | 0.0575 |
| D(LTOLL44) | –0.3729 | 0.1515 | –2.4614 | 0.0140 |
| D(LTOLL45) | –0.4115 | 0.1619 | –2.5420 | 0.0112 |
| D(LTOLL46) | –0.4045 | 0.2312 | –1.7495 | 0.0806 |
| D(LTOLL47) | –0.5029 | 0.1554 | –3.2366 | 0.0013 |
| D(LTOLL48) | –0.0931 | 0.2265 | –0.4108 | 0.6813 |
| D(LTOLL49) | –0.2227 | 0.1657 | –1.3439 | 0.1793 |
| D(LTOLL50) | –0.1935 | 0.0913 | –2.1199 | 0.0343 |
| D(LTOLL51) | –0.3617 | 0.0650 | –5.5628 | 0.0000 |
| D(LTOLL52) | –0.4411 | 0.0647 | –6.8186 | 0.0000 |
| D(LTOLL53) | –0.8415 | 0.1494 | –5.6340 | 0.0000 |
| D(LTOLL54) | –0.8140 | 0.1435 | –5.6730 | 0.0000 |
| D(LTOLL55) | –0.8301 | 0.1714 | –4.8438 | 0.0000 |
| D(LTOLL56) | –0.3729 | 0.1065 | –3.5004 | 0.0005 |
| D(LTOLL57) | –0.3294 | 0.0839 | –3.9255 | 0.0001 |
| D(LTOLL58) | –0.3569 | 0.1728 | –2.0648 | 0.0392 |
| D(LTOLL59) | –0.3863 | 0.0936 | –4.1281 | 0.0000 |
| D(LTOLL60) | –0.5015 | 0.0830 | –6.0381 | 0.0000 |
| D(LTOLL61) | –0.5248 | 0.1946 | –2.6970 | 0.0071 |
| D(LTOLL62) | –0.4816 | 0.1138 | –4.2314 | 0.0000 |
| D(LTOLL63) | –0.3233 | 0.1335 | –2.4213 | 0.0157 |
| D(LTOLL64) | –0.3922 | 0.0990 | –3.9625 | 0.0001 |
| D(LTOLL65) | –0.4431 | 0.1168 | –3.7933 | 0.0002 |
| D(LTOLL66) | –0.3706 | 0.1427 | –2.5963 | 0.0096 |
| D(LTOLL67) | –0.3451 | 0.0534 | –6.4635 | 0.0000 |
| D(LTOLL68) | –0.3692 | 0.0562 | –6.5701 | 0.0000 |
| D(LTOLL69) | –0.4417 | 0.1117 | –3.9532 | 0.0001 |
| D(LTOLL70) | –0.8108 | 0.2983 | –2.7182 | 0.0067 |
| D(LTOLL71) | –0.8798 | 0.3854 | –2.2825 | 0.0227 |
| D(LTOLL72) | –0.2516 | 0.3066 | –0.8208 | 0.4120 |
| D(Z1) | –0.0517 | 0.0259 | –1.9918 | 0.0467 |
| D(Z2) | –0.0688 | 0.0240 | –2.8680 | 0.0042 |
| D(Z3) | –0.0720 | 0.0246 | –2.9222 | 0.0036 |
| D(Z4) | –0.0518 | 0.0259 | –1.9971 | 0.0461 |
| D(Z5) | 0.1548 | 0.0395 | 3.9192 | 0.0001 |
| D(Z6) | 0.1689 | 0.0363 | 4.6490 | 0.0000 |
| D(Z7) | 0.1197 | 0.0577 | 2.0755 | 0.0382 |
| D(Z8) | –0.0687 | 0.0214 | –3.2092 | 0.0014 |
| D(Z9) | –0.0621 | 0.0198 | –3.1309 | 0.0018 |
| D(Z10) | –0.0689 | 0.0283 | –2.4343 | 0.0151 |
| D(Z11) | –0.0428 | 0.0228 | –1.8769 | 0.0609 |
| D(Z12) | –0.0554 | 0.0242 | –2.2876 | 0.0224 |
| D(Z13) | 0.0726 | 0.0248 | 2.9326 | 0.0034 |
| D(Z14) | –0.0337 | 0.0198 | –1.7058 | 0.0884 |
| D(Z15) | 0.0622 | 0.0202 | 3.0823 | 0.0021 |
| D(Z16) | –0.0365 | 0.0172 | –2.1197 | 0.0343 |
| D(Z17) | 0.0474 | 0.0175 | 2.7040 | 0.0070 |
| D(Z18) | 0.0439 | 0.0194 | 2.2611 | 0.0240 |
| D(Z19) | 0.0419 | 0.0155 | 2.7086 | 0.0069 |
| D(Z20) | 0.0515 | 0.0130 | 3.9495 | 0.0001 |
| D(Z21) | 0.1690 | 0.0440 | 3.8452 | 0.0001 |
| D(Z22) | 0.0812 | 0.0168 | 4.8386 | 0.0000 |
| D(Z23) | 0.0836 | 0.0209 | 4.0077 | 0.0001 |
| D(Z24) | 0.1399 | 0.0187 | 7.4758 | 0.0000 |
| D(Z25) | –0.1377 | 0.0492 | –2.7967 | 0.0053 |
| D(Z26) | 0.0863 | 0.0178 | 4.8569 | 0.0000 |
| D(Z27) | 0.0749 | 0.0175 | 4.2714 | 0.0000 |
| D(Z28) | 0.0449 | 0.0206 | 2.1811 | 0.0294 |
Notes: All the variables are defined in first differences (D) of the logarithm (L). GDP = gross domestic product; PGAS = gasoline price; TRAFFIC = average daily traffic volume; TOLL = toll paid per km for the 72 motorway sections; D(Z1)-D(Z28) = the first differences of dummy variables to account for changes in the road network.