Evaluating the Impact of Urban Transit Infrastructure: Evidence from Bogotá’s TransMilenio
利用波哥大快速公交系统建设数据，通过城市模型估计公共交通改善对城市结构和福利的影响，发现传统时间价值计算仅能解释52%的福利收益。
This paper estimates the effects of improving public transit infrastructure on city structure and welfare. It develops a quantitative urban model with multiple worker groups and transit modes, and derives a special case yielding sufficient statistics for aggregate welfare in a broad class of models. The paper estimates reduced-form elasticities to implement the approach using data spanning construction of the world’s largest Bus Rapid Transit system in Bogotá, Colombia. This class of models explains observed adjustments in economic activity. Standard value-of-time calculations capture only 52 percent of welfare gains. Accounting for reallocation and general equilibrium effects, distributional impacts are modest.