Modelling spillover effects of public transportation means: An intra-modal GVAR approach for Athens

Abstract

In this work, we employ the GVAR model in order to analyze demand aspects of a multimodal public transportation system. The methodology is applied to the Athens region, Greece. GVAR provides a relevant econometric modelling framework for assessing relationships between economic entities, such as transportation modes, by analyzing the relative shocks and channels of transmission mechanisms among them. According to our findings, which are consistent with the existing literature, the system of all public transportation modes in the wider Athens region, is relatively flexible to unexpected – intramodal or macroeconomic – shocks.