Trends in Personal Income and Passenger Vehicle Miles
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2007-10-01
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Abstract:While it is difficult to predict how individuals will use increases in their real income in the future, it is clear that historically some of that increase has been used to acquire a household vehicle or increase the number of household vehicles. Higher incomes, along with increased vehicle availability, have enabled individuals to travel more and for longer distances. However, some indicators suggest these effects have begun to diminish. Whether income effects will have smaller impacts in the future depends on many factors, such as vehicle availability and responses to changing travel costs and speeds.
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Main Document Checksum:urn:sha256:7d2708fda01265595e7265ded42e8b4f4d35eff3810df3d69c4d96435819e9f9
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