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Widely different approaches to rail reform are evident across countries and within Australia. Reforms have involved structural separation (both vertical and horizontal) and varying degrees of private sector involvement. Evidence from Australian experience suggests that no one size fits all. The...
Persistent link: https://www.econbiz.de/10013239340
IV explores the implications of the analysis for a variety of issues relating to monopoly and public regulation, such as …, suffer a loss, that is not offset by gains to the monopolist. This is the "deadweight loss" from monopoly, and in … conventional analysis the only social cost of monopoly. The loss suffered by those who continue to buy the product at the higher …
Persistent link: https://www.econbiz.de/10013245335
Over the course of the nineteenth century manufacturing in the United States shifted from artisan shop to factory production. At the same time United States experienced a quot;transportation revolutionquot;, a key component of which was the building of extensive railroad network. Using a newly...
Persistent link: https://www.econbiz.de/10012769675
-established regulator faces a privately owned monopoly. It is sometimes forgotten that this model does not apply in many places where a … 20 years, analyzing its impact on consumers' welfare, the monopoly's profitability and its productivity. Though the …
Persistent link: https://www.econbiz.de/10012760613
heavy burden of monopoly and regulation. We find little evidence that the introduction of social protection programs for …This paper discusses the problems facing the Mexican economy. It operates under a heavy burden of monopoly and … regulation. We focus on two issues that should receive more attention in discussions of Mexican policy. (1) The family is under …
Persistent link: https://www.econbiz.de/10013135761
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 and approval procedures; and (iii) relaxed route...
Persistent link: https://www.econbiz.de/10013210639
This paper documents that rotation group bias -- the tendency for labor force statistics to vary systematically by month in sample in labor force surveys -- in the Current Population Survey (CPS) has worsened considerably over time. The estimated unemployment rate for earlier rotation groups has...
Persistent link: https://www.econbiz.de/10013048612
Studies have shown a connection between finance and growth, but most do not consider how financial and real factors interact to put a virtuous cycle of economic development into motion. As the main transportation advance of the 19th century, railroads connected established commercial centers and...
Persistent link: https://www.econbiz.de/10013052694
In this paper we examine the causal impact of competition on management quality. We analyze the hospital sector where geographic proximity is a key determinant of competition, and English public hospitals where political competition can be used to construct instrumental variables for market...
Persistent link: https://www.econbiz.de/10013069806
The basic competitive model with freely available technology is suited for static industries but misleading as applied to major innovative economies for which development of new technologies equals in magnitude around 10% of gross domestic investment. We distinguish free generic technology from...
Persistent link: https://www.econbiz.de/10012757081