Modelling approach establishes long-run relationships in car ownership, indicating future trends in Britain.
The National Road Traffic Forecasts for car ownership in Britain are based on a number of approaches. This paper develops a single alternative model of car ownership within the general to specific methodology. The paper uses cointegration tests to establish a long-run equilibrium relationship for car ownership in Britain for the period 1953 to 1994. The model provides good estimation results.
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Romilly et al. (1998) studied this question.
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