The London Congestion Charge

Traffic Accidents and the London Congestion Charge

In a rare effort to internalize congestion costs, London recently instituted charges for traveling by car to the central city during peak hours. Although the theoretical influence on the number and severity of traffic accidents is ambiguous, we show that the policy generated a substantial reduction in both accidents and fatalities in the charged area and hours. At the same time, the spatial, te...

London Congestion Charging

Traffic Externalities and Housing Prices: Evidence from the London Congestion Charge

This study exploits the introduction of the London Congestion Charge (CC) that greatly improves traffic conditions in Central London to provide new evidence on the capitalization of traffic externalities onto housing values. The Congestion Charge restricts traffic into the cordoned area by imposing a flat fee on drivers whenever they enter during charging periods. I show that the introduction o...

Air pollution and mortality benefits of the London Congestion Charge: spatial and socioeconomic inequalities.

OBJECTIVES To alleviate traffic congestion in Central London, the Mayor introduced the Congestion Charging Scheme (CCS) in February 2003. We modelled the impact of the CCS on levels of traffic pollutants, life expectancy and socioeconomic inequalities. METHODS Annual average NO(2) and PM(10) were modelled using an emission-dispersion model. We assumed the meteorology and vehicle fleet remaine...

London’s Congestion Charge