CONGESTION PRICING’S LONG-RUN EFFECTS ON FIRM AND HOUSEHOLD LOCATION CHOICES IN POLYCENTRIC CITIES 2

摘要: This paper develops a spatial general equilibrium model to explore the land use effects of three 25 roadway congestion pricing strategies in polycentric (multi-ring) city settings, where household and firm 26 locations and wage rates are endogenously determined. Simulation results show how Pigouvian tolling of 27 travel in the polycentric setting can cause many jobs (17% in this example) to leave the central business 28 district (CBD) and relocate to a relatively dense but suburban ring. To achieve city-wide welfare gains, 29 efficient land use regulations should permit such job decentralization. Simulations also illuminate how 30 simple, distance-based tolls generate lower welfare improvements, but stimulate similar land use effects. 31 A cordon toll may re-agglomerate firms in a polycentric sub-center ring of development. Overall, results 32 highlight how an urban economic model enabling endogenous business …