Rail costs and capital adjustments in a quasi-regulated environment
This paper reports on results obtained from estimation of a rail cost function using a pooled time-series cross section of Class I U.S. railroads for the period 1973-1986. Based on the results of this cost function, an analysis is performed of short-run and long-run returns to scale, and adjustments...
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| Format: | Working Paper |
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MIT Center for Energy and Environmental Policy Research
2009
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| Online Access: | http://hdl.handle.net/1721.1/50151 |
| _version_ | 1826203965373546496 |
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| author | Friedlaender, Ann Fetter |
| author_facet | Friedlaender, Ann Fetter |
| author_sort | Friedlaender, Ann Fetter |
| collection | MIT |
| description | This paper reports on results obtained from estimation of a rail cost function using a pooled time-series cross section of Class I U.S. railroads for the period 1973-1986. Based on the results of this cost function, an analysis is performed of short-run and long-run returns to scale, and adjustments in way and structure capital in the heavily regulated and quasi regulated environments. In general, it is found that there is considerable overcapitalization in the rail industry, and that this has persisted in spite of the regulatory freedom to abandon track and service provided by the Staggers Act. |
| first_indexed | 2024-09-23T12:46:43Z |
| format | Working Paper |
| id | mit-1721.1/50151 |
| institution | Massachusetts Institute of Technology |
| last_indexed | 2024-09-23T12:46:43Z |
| publishDate | 2009 |
| publisher | MIT Center for Energy and Environmental Policy Research |
| record_format | dspace |
| spelling | mit-1721.1/501512019-04-12T23:30:58Z Rail costs and capital adjustments in a quasi-regulated environment Friedlaender, Ann Fetter This paper reports on results obtained from estimation of a rail cost function using a pooled time-series cross section of Class I U.S. railroads for the period 1973-1986. Based on the results of this cost function, an analysis is performed of short-run and long-run returns to scale, and adjustments in way and structure capital in the heavily regulated and quasi regulated environments. In general, it is found that there is considerable overcapitalization in the rail industry, and that this has persisted in spite of the regulatory freedom to abandon track and service provided by the Staggers Act. Supported by the National Science Foundation and MIT's Center for Energy Policy Research. 2009-12-15T23:54:04Z 2009-12-15T23:54:04Z 1990 Working Paper 90-018 http://hdl.handle.net/1721.1/50151 28596110 Working paper (Massachusetts Institute of Technology. Center for Energy Policy Research) ; MIT-CEPR 90-018. 58 p application/pdf MIT Center for Energy and Environmental Policy Research |
| spellingShingle | Friedlaender, Ann Fetter Rail costs and capital adjustments in a quasi-regulated environment |
| title | Rail costs and capital adjustments in a quasi-regulated environment |
| title_full | Rail costs and capital adjustments in a quasi-regulated environment |
| title_fullStr | Rail costs and capital adjustments in a quasi-regulated environment |
| title_full_unstemmed | Rail costs and capital adjustments in a quasi-regulated environment |
| title_short | Rail costs and capital adjustments in a quasi-regulated environment |
| title_sort | rail costs and capital adjustments in a quasi regulated environment |
| url | http://hdl.handle.net/1721.1/50151 |
| work_keys_str_mv | AT friedlaenderannfetter railcostsandcapitaladjustmentsinaquasiregulatedenvironment |