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Product Market Deregulation's Winners and Losers: US Railroads Between 1981 and 2001

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  • Laura Padilla-Angulo
  • Guido Friebel
  • Gerard McCullough

Abstract

We account for the labour effects around the time of deregulation by investigating a comprehensive data set on US railroads that contain detailed finance, output, employment, and wage information for six different skill groups. We identify the effect of product market strategies and mergers on workers' employment and earnings. Railroads have downsized and they have restructured the composition of their human resources. The majority of employee groups have benefited in terms of compensation. Low-skilled workers, blue-collar workers, and administrative staff are the main losers. The main winners have been managers and locomotive drivers.

Suggested Citation

  • Laura Padilla-Angulo & Guido Friebel & Gerard McCullough, 2019. "Product Market Deregulation's Winners and Losers: US Railroads Between 1981 and 2001," Journal of Transport Economics and Policy, University of Bath, vol. 53(3), pages 212-21-237.
    • Handle: RePEc:tpe:jtecpo:2019:53:3:212--237
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    1. Laura Padilla-Angulo, 2020. "The impact of board diversity on strategic change: a stakeholder perspective," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 24(4), pages 927-952, December.

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    More about this item

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
    • L43 - Industrial Organization - - Antitrust Issues and Policies - - - Legal Monopolies and Regulation or Deregulation

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