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Market-Specific Effects of Rail Deregulation

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  • Wilson, Wesley W

Abstract

Since partial deregulation of the railroad industry in 1980, real rail rates have fallen. Yet, previous studies are inconclusive in identifying deregulation as the reason for lower rates. In this paper, the author develops a model that tests a variety of deregulation effects on the rates charged for transporting thirty-four different commodities. The results suggest that deregulation has significantly affected almost all commodities and that the effects vary by commodity and through time. Initially, deregulation increased rates for some commodities, had no effect on others, and decreased rates on still others. However, by 1988, deregulation lowered rates significantly for almost all commodities. Copyright 1994 by Blackwell Publishing Ltd.

Suggested Citation

  • Wilson, Wesley W, 1994. "Market-Specific Effects of Rail Deregulation," Journal of Industrial Economics, Wiley Blackwell, vol. 42(1), pages 1-22, March.
    • Handle: RePEc:bla:jindec:v:42:y:1994:i:1:p:1-22
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    Cited by:

    1. Wesley W. Wilson & Frank A. Wolak, 2018. "Benchmark Regulation of Multiproduct Firms: An Application to the Rail Industry," NBER Working Papers 25268, National Bureau of Economic Research, Inc.
    2. McCarthy, Patrick & Zhai, Zhe, 2019. "Economic impact analysis of GDOT short line railroad infrastructure investment in Georgia," Research in Transportation Economics, Elsevier, vol. 77(C).
    3. Coublucq, Daniel, 2013. "Econometric analysis of productivity with measurement error: Empirical application to the US Railroad industry," DICE Discussion Papers 95, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    4. Peoples, James & Talley, Wayne K., 2007. "Earnings Differentials of Railroad Managers and Labor," Research in Transportation Economics, Elsevier, vol. 20(1), pages 259-281, January.
    5. David E. Davis & Wesley W. Wilson, 2003. "Wages in Rail Markets: Deregulation, Mergers, and Changing Networks Characteristics," Southern Economic Journal, John Wiley & Sons, vol. 69(4), pages 865-885, April.
    6. Wilson, Wesley W. & Wilson, William W., 2001. "Deregulation, rate incentives, and efficiency in the railroad market," Research in Transportation Economics, Elsevier, vol. 6(1), pages 1-24, January.
    7. Wilson, William W., 1998. "U.S. Grain Handling And Transportation System: Factors Contributing To The Dynamic Changes In The 1980s And 1990s," AE Series 23081, North Dakota State University, Department of Agribusiness and Applied Economics.
    8. John Bitzan & Wesley Wilson, 2007. "Industry costs and consolidation: efficiency gains and mergers in the U.S. railroad industry," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 30(2), pages 81-105, March.
    9. Prentice, Barry E. & Wilson, William W., 1998. "Future Transportation Developments In The U.S./Canada/Mexico Grains-Livestock Subsector Under Nafta And Wto," Proceedings of the 4th Agricultural and Food Policy Systems Information Workshop 1998: Economic Harmonization in the Canadian\U.S.\Mexican Grain-Livestock Subsector; 16766, Farm Foundation, Agricultural and Food Policy Systems Information Workshops.
    10. Lawrence White, 2002. "Staples-Office Depot and UP-SP: An Antitrust Tale of Two Proposed Mergers," Working Papers 02-12, New York University, Leonard N. Stern School of Business, Department of Economics.
    11. Wesley W. Wilson & Frank A. Wolak, 2016. "Freight Rail Costing and Regulation: The Uniform Rail Costing System," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 49(2), pages 229-261, September.
    12. Kevin E. Henrickson & Wesley W. Wilson, 2008. "Compensation, Unionization, and Deregulation in the Motor Carrier Industry," Journal of Law and Economics, University of Chicago Press, vol. 51(1), pages 153-177, February.
    13. Hughes, Jonathan E., 2011. "The higher price of cleaner fuels: Market power in the rail transport of fuel ethanol," Journal of Environmental Economics and Management, Elsevier, vol. 62(2), pages 123-139, September.
    14. Miller, Keaton & Wilson, Wesley W., 2023. "Changes in rail rates for U.S. commodity grain shipments over time," Research in Transportation Economics, Elsevier, vol. 102(C).
    15. Krier, Betty & Liu, Chia-Mei & McNamara, Brian & Sharpe, Jerrod, 2014. "Individual freight effects, capacity utilization, and Amtrak service quality," Transportation Research Part A: Policy and Practice, Elsevier, vol. 64(C), pages 163-175.
    16. Ndembe, Elvis & Bitzan, John D., 2022. "A shadow price approach examining service quality in a heavily captive U.S. freight transportation market: The case of grain transport," Transport Policy, Elsevier, vol. 116(C), pages 1-10.
    17. James MacDonald, 2013. "Railroads and Price Discrimination: The Roles of Competition, Information, and Regulation," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 43(1), pages 85-101, August.
    18. Wilson, Wesley W. & Wilson, William W., 1998. "Deregulation And Innovation In Railroad Shipping Of Agricultural Commodities: 1972-1995," AE Series 23090, North Dakota State University, Department of Agribusiness and Applied Economics.
    19. Kyle E. Binder & James W. Mjelde, 2017. "Fuel inventory and price relationships in the U.S. electric power sector under regulatory and market change," Journal of Regulatory Economics, Springer, vol. 51(2), pages 197-219, April.
    20. Devin Serfas & Richard Gray & Peter Slade, 2018. "Congestion and Distribution of Rents in Wheat Export Sector: A Canada–U.S. Cross†Border Comparison," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 66(2), pages 187-207, June.
    21. Mark L. Burton, 1995. "Rail Rates And The Availability Of Water Transportation: The Missouri Valley Region," The Review of Regional Studies, Southern Regional Science Association, vol. 25(1), pages 79-95, Summer.
    22. Richard L. Schmalensee & Wesley W. Wilson, 2016. "Modernizing U.S. Freight Rail Regulation," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 49(2), pages 133-159, September.
    23. Eva Jansson, 0. "Deregulation, property rights, and legal system," European Journal of Law and Economics, Springer, vol. 0, pages 1-25.

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