Caves, Douglas W.; Christensen, Laurits R.; Swanson, … - In: Bell Journal of Economics 11 (1980) 1, pp. 166-181
This paper develops estimates of U.S. railroad productivity by using methods based on the neoclassical theory of production. We find that railroad productivity grew at the average annual rate of 1.5 percent per year during the 1951-1974 period. Using conventional measurement procedures for...