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100			_aYang, Jun, Avralt-Od Purevjav, and Shanjun Li _918568
245			_aThe marginal cost of traffic congestion and road pricing: evidence from a natural experiment in Beijing
260			_aAmerican Economic Journal: Economic Policy
300			_a12(1), Feb, 2020: p. 418-453
520			_aSevere traffic congestion is ubiquitous in large urban centers. This paper provides the first causal estimate of the relationship between traffic density and speed and optimal congestion charges using real-time fine-scale traffic data in Beijing. The identification relies on plausibly exogenous variation in traffic density induced by Beijing's driving restriction policy. Optimal congestion charges range from 5 to 39 cents per km depending on time and location. Road pricing would increase traffic speed by 11 percent within the city center and lead to an annual welfare gain of ¥1.5 billion from reduced congestion and revenue of ¥10.5 billion.- Reproduced
650			_aEconomic Development - China _918569
773			_aAmerican Economic Journal: Economic Policy
906			_aTAXATION - CHINA
942			_cAR