Traditionally, many economists have examined the models and economics of urban taxi services under various types of regulation such as entry restriction and price control in an aggregate way. Only recently have we modeled urban taxi services in a network context. A realistic method has been proposed to describe vacant and occupied taxi movements in a road network and taxi drivers' search behavior for customers. A few extensions have been made to deal with demand elasticity and congestion effects together with development of efficient solution algorithms. Calibration and validation of the network taxi service models have been conducted towards their practical applications. This paper presents an overview of the research that has been carried out by the authors to develop network equilibrium models and solution algorithms for urban taxi services, and offers perspectives for future researches.