![](/images/graphics-bg.png)
Investment Policies to Extend the Life of Expressways in Japan
Joint Authors
Source
Discrete Dynamics in Nature and Society
Issue
Vol. 2017, Issue 2017 (31 Dec. 2017), pp.1-14, 14 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2017-07-18
Country of Publication
Egypt
No. of Pages
14
Main Subjects
Abstract EN
This study examines the macroeconomic effects of investment policies aimed at extending the life of expressways in Japan based on a stochastic Ramsey model.
The results of numerical analysis suggest that the benefits of life-extension investment in expressways can be increased by raising the level of maintenance intensity of expressways.
The benefits of life-extension investment in expressways can be decomposed into the stock effect and the smoothing effect.
Decomposition of life-extension benefits shows that the contribution of the stock effect is more than 90 percent, while that of the smoothing effect is less than 10 percent.
The implementation of life-extension investment policies regarding expressways offers advantages in terms of reducing economic fluctuations and user charges.
In addition, if relative risk aversion is high, efficiency is low and intergenerational equity is high.
Furthermore, a higher level of technology leads to greater efficiency and intergenerational equity.
American Psychological Association (APA)
Noda, Hideo& Osano, Yuichi. 2017. Investment Policies to Extend the Life of Expressways in Japan. Discrete Dynamics in Nature and Society،Vol. 2017, no. 2017, pp.1-14.
https://search.emarefa.net/detail/BIM-1151398
Modern Language Association (MLA)
Noda, Hideo& Osano, Yuichi. Investment Policies to Extend the Life of Expressways in Japan. Discrete Dynamics in Nature and Society No. 2017 (2017), pp.1-14.
https://search.emarefa.net/detail/BIM-1151398
American Medical Association (AMA)
Noda, Hideo& Osano, Yuichi. Investment Policies to Extend the Life of Expressways in Japan. Discrete Dynamics in Nature and Society. 2017. Vol. 2017, no. 2017, pp.1-14.
https://search.emarefa.net/detail/BIM-1151398
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1151398