Based on the observed behavior of monetary aggregates and exchange rates, we classify inflation-stabilization episodes into two categories: de facto exchange rate-based stabilizations (ERBS) and non-ERBS. Unlike the standard de jure ERBS studied in the literature, de facto ERBS encompass cases...

Producing high technology output and supplying sophisticated services often involves costly investment in industry-specific skills. But the threat of poaching means that it is the individual 'stakeholder,' not the firm, who must bear the cost. The authors investigate various mechanisms for...

We examine whether Brazilian sovereign spreads of over 20 percent in 2002 could be due to contagion from Argentina or to domestic politics, or both. Treating unilateral debt restructuring as a policy variable gives rise to the possibility of self-fulfilling crisis, which can be triggered by...

The objective of this study is to determine whether ramp meters increase the capacity of active freeway bottlenecks, and if they do, how. The traffic flow characteristics at twenty-seven active bottlenecks in the Twin Cities have been studied for seven weeks without ramp metering and seven weeks...

This research examines road pricing on a network of autonomous highway links. By autonomous it is meant that the links are competitive and independent, with the objective of maximizing their own profits without regard for either social welfare or the profits of other links. The principal goal of...

This paper explores drivers' subjective value of time under moving and stopped freeway travel conditions using a stated preference survey. Unlike previous studies that assume a constant value of time, this research relates perceived satisfaction of a freeway trip to its quality indicators....

This paper develops an analytical framework for ramp metering, under which various ramp control strategies can be viewed as ramifications of the same most-efficient control logic with different threshold values, control methods, and equity considerations. The most-efficient control logic only...

Capacity of a freeway segment should only be measured when it is an active bottleneck. The properties of flows at active freeway bottlenecks bear on both the definition of capacity and the procedure of capacity analysis. Past studies have examined the flow features at bottlenecks on several...

A new freeway ramp control objective - minimizing total weighted travel time is presented in this study. This new objective function is capable of balancing efficiency and equity of ramp meters, while the previous metering objective - minimizing total absolute travel time is purely...

This paper explores impacts of ramp metering on urban land use. A regression-based transportation model is developed to capture changes in accessibility caused by ramp metering on a highway network. A Land Use Change Indicator (LUCI) model is modified to estimate how the spatial distribution of...