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NomNew

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How the World Cup Builds Nations

nominalnews.com
1 points·by NomNew·13 giorni fa·0 comments

Fixed-Rate Mortgages Are Rent Control for Homeoweners

precon.substack.com
15 points·by NomNew·16 giorni fa·4 comments

Kevin Warsh's Press Conference Collides into 30 Years of Michael Woodford

newsletter.mikekonczal.com
4 points·by NomNew·20 giorni fa·2 comments

Federal Reserve FOMC Meeting

nominalnews.com
1 points·by NomNew·27 giorni fa·0 comments

When People Cut Back on Instagram, Where Do They Go?

mondayeconomist.com
3 points·by NomNew·27 giorni fa·0 comments

'AI' Could Lead to a Rise in Research Slop

nominalnews.com
2 points·by NomNew·2 mesi fa·0 comments

AI May, Paradoxically, Increase Demand for Higher Ed

jimmyalfonsolicon.substack.com
3 points·by NomNew·2 mesi fa·0 comments

One Year Since "Liberation Day" Tariffs– The Economists Were Right

nominalnews.com
5 points·by NomNew·2 mesi fa·1 comments

Spousal Preferences Impact Career Outcomes of Men and Women

nominalnews.com
1 points·by NomNew·3 mesi fa·0 comments

Reflections on Vibe Researching

joshuagans.substack.com
2 points·by NomNew·3 mesi fa·0 comments

Guns and Butter: The Oldest Trade-Off in Economics Is Back

mondayeconomist.com
3 points·by NomNew·3 mesi fa·0 comments

The Mortal Consequences of Free Trade – How NAFTA Shortened Lives

nominalnews.com
2 points·by NomNew·3 mesi fa·0 comments

With Less Immigration, Urban Growth Slowed in 2025

substack.com
1 points·by NomNew·4 mesi fa·0 comments

Federal government employees are not ok

donmoynihan.substack.com
6 points·by NomNew·4 mesi fa·1 comments

Why Expanding Roads Fails to Reduce Traffic Congestion

nominalnews.com
12 points·by NomNew·4 mesi fa·15 comments

The Dirty Secret of Election Models

realcarlallen.substack.com
2 points·by NomNew·4 mesi fa·0 comments

Even Before the Iran War, There Was a Growing Inflation Problem

newsletter.mikekonczal.com
8 points·by NomNew·4 mesi fa·1 comments

Why Good Economic Policies Can Fail – The Need for Incentives and Reminders

nominalnews.com
1 points·by NomNew·4 mesi fa·0 comments

Mind the Failure Gap

erman.substack.com
1 points·by NomNew·4 mesi fa·0 comments

Does Where You're Born Matter More Than How Hard You Work?

decodeecon.com
60 points·by NomNew·4 mesi fa·29 comments

comments

NomNew
·4 mesi fa·discuss
And also - thanks for the comments and questions!
NomNew
·4 mesi fa·discuss
Ah, I see. The key question the authors look at is what is the impact of adding a lane to VKT - this they found one-for-one growth. They control for many other factors that may have led to the growth over the observed time period (population being the big control).

The broad question is what would reduce congestion - currently, on the margin, adding a lane will not reduce it. I imagine that hypothetically adding many lanes may reduce congestion, although there may be city driven bottlenecks that don't make this feasible at all.
NomNew
·4 mesi fa·discuss
I'm not sure I see the nuance in the two issues you point to. The paper looks at how adding new lanes changed congestion on these roads. The results found no change in congestion, as shown by VKT growing the same amount as the increase in road capacity.

A driver, besides the cost of the car and fuel, faces a time cost. An extra lane will reduce the time-cost, assuming no new vehicles enter the road. But if time costs fall, it's in effect 'cheaper' to drive. So previous car trips that were not happening, because the time-cost was too high, are now occurring. The amount of extra car-trips is such that we are back to the same time-cost as before the road expansion. That's why VKT ends up growing one for one with road expansion.
NomNew
·4 mesi fa·discuss
The study looked at what is the source of extra traffic. In most cases it was individuals living in the area doing more car trips.

Basically, an extra lane temporarily reduces congestion. The main cost of congestion to road users is time. Since now it's faster to travel, you're more likely to do an extra car trip. You continue taking extra car trips, until the cost in time is the same as pre-road expansion.

The question then is are the extra car-trips valuable.