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Mergers, Deregulation and Cost Savings in the U.S. Rail Industry

Berndt, Ernst R. - 1991

The success of deregulation in creating a viable private rail freight system in the ?U.S. since 1979 is relatively … undisputed. Deregulation has proceeded in three ways: (i) eased rate setting restrictions; (ii) simplified merger applications … of deregulation on rail costs from those directly attributable to mergers and acquisitions. We employ a translog variable …

Persistent link: https://www.econbiz.de/10012475256

The Euro and Structural Reforms

Alesina, Alberto - 2008

, defined as deregulation in the product markets and liberalization and deregulation in the labor markets. After reviewing the …

Persistent link: https://www.econbiz.de/10012464168

The Economic Future of Europe

Blanchard, Olivier - 2004

After three years of near stagnation, the mood in Europe is definitely gloomy. Many doubt that the European model has a future. In this paper, I argue that things are not so bad, and there is room for optimism. Over the last thirty years, productivity growth has been much higher in Europe than...

Persistent link: https://www.econbiz.de/10012468364

Competitive Liberalization and a US-SACU FTA

Whalley, John - 2003

This paper evaluates a possible US-SACU (Southern African Customs Union) free trade agreement as part of a US approach to new preferential trade agreements characterized by the term competitive liberalization.' This is the idea that competition among large countries (US/EU) to negotiate...

Persistent link: https://www.econbiz.de/10012468526

Collusive Investments in Technological Compatibility : Lessons from U.S. Railroads in the Late 19th Century

Gross, Daniel P. - 2019

Collusion is widely condemned for its negative effects on consumer welfare and market efficiency. In this paper, I show that collusion may also in some cases facilitate the creation of unexpected new sources of value. I bring this possibility into focus through the lens of a historical episode...

Persistent link: https://www.econbiz.de/10012480205

Railroads of the Raj : Estimating the Impact of Transportation Infrastructure

Donaldson, Dave - 2010

How large are the benefits of transportation infrastructure projects, and what explains these benefits? To shed new light on these questions, this paper uses archival data from colonial India to investigate the impact of India's vast railroad network. Guided by four predictions from a general...

Persistent link: https://www.econbiz.de/10012462170

Agricultural Improvements and Access to Rail Transportation : The American Midwest as a Test Case, 1850-1860

Atack, Jeremy - 2009

During the 1850s, land in U.S. farms surged by more than 100 million acres while almost 50 million acres of land were transformed from their raw, natural state into productive farmland. The time and expense of transforming this land into a productive resource represented a significant fraction...

Persistent link: https://www.econbiz.de/10012463129

Did Railroads Induce or Follow Economic Growth? Urbanization and Population Growth in the American Midwest, 1850-60

Atack, Jeremy - 2009

For generations of scholars and observers, the "transportation revolution," especially the railroad, has loomed large as a dominant factor in the settlement and development of the United States in the nineteenth century. There has, however, been considerable debate as to whether transportation...

Persistent link: https://www.econbiz.de/10012464009

Railroads and Local Economic Development : The United States in the 1850s

Haines, Michael R. - 2006

Most of the estimated effects are small and the signs are not wholly consistent with either model, under the null hypothesis that agriculture was the chief beneficiary of rail access. For example, we find that rail access appears to have increased urbanization, raised the likelihood of...

Persistent link: https://www.econbiz.de/10012466284

Technological Revolutions and Stock Prices

Pastor, Lubos - 2005

We develop a general equilibrium model in which stock prices of innovative firms exhibit "bubbles" during technological revolutions. In the model, the average productivity of a new technology is uncertain and subject to learning. During technological revolutions, the nature of this uncertainty...

Persistent link: https://www.econbiz.de/10012466795

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