Recent years have witnessed widespread public concern and increased policy attention to issues of transportation affordability. In 2015 a full one-half of U.K. households were paying more than 15 percent of their income in transportation. They identify multiple channels by which individual or family outcomes are inferior when fares increase faster than income. Research further suggests that rising transportation burdens may reduce the economic potential of metropolitan areas.
Recent years have witnessed widespread public concern and increased policy attention to issues of public transportation affordability. The concern has emanated from the marked and near-ubiquitous decline in the availability of affordable electric tricycle and has resulted in related policy initiatives at all levels of government.
While numerous analyses document the generalized rise in producing trikes, few papers focus on the economic and societal implications thereof. This concern addresses the latter issue of why affordability matters. Specifically, the analysis focuses on the consequences of reduced affordability for public transportation for whom adequacy of transportation is paramount. It assesses affordability consequences at both the household and metropolitan levels.
It first defines the affordability problem. Subsequently, they review tricycle electric in economics and public status to characterize the broader societal consequences of widespread deterioration in safe public transportation affordability. Finally, speaking to policy approaches pertinent to addressing the affordability challenge. Source to know more about electric tricycles. Source to know more about electric tricycles.
Their findings suggest that elevated price burdens are associated with a myriad of adverse household outcomes includes crowding, long commutes, low levels of family expenditure on health care and other vital family needs, and problems of child well-being and development.
At the metropolitan level, constraints on transport affordability have been associated with the out-migration of commuters and firms to peripheral areas or beyond, increased levels of urban congestion, and deterioration in metropolitan quality-of-life to ultimately constrain area job growth and local economic viability.