Rail costs and capital adjustments in a quasi regulated environment
This paper reports on results obtained from the estimation of a rail cost function using a pooled-time series, cross section of Class I railroads for the period 1974-1986. An analysis is performed of short-run and long-run returns to scale, the extent of capital disequilibrium, and adjustments to wa...
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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/1721.1/50169 |
| _version_ | 1826214233293979648 |
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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 the estimation of a rail cost function using a pooled-time series, cross section of Class I railroads for the period 1974-1986. An analysis is performed of short-run and long-run returns to scale, the extent of capital disequilibrium, and adjustments to way and structures capital in the heavily regulated and quasi-regulated environments before and after the passage of the Staggers Act in 1980. 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 provided by the Staggers Act. |
| first_indexed | 2024-09-23T16:01:54Z |
| format | Working Paper |
| id | mit-1721.1/50169 |
| institution | Massachusetts Institute of Technology |
| last_indexed | 2024-09-23T16:01:54Z |
| publishDate | 2009 |
| publisher | MIT Center for Energy and Environmental Policy Research |
| record_format | dspace |
| spelling | mit-1721.1/501692019-04-12T23:31:02Z Rail costs and capital adjustments in a quasi regulated environment Friedlaender, Ann Fetter This paper reports on results obtained from the estimation of a rail cost function using a pooled-time series, cross section of Class I railroads for the period 1974-1986. An analysis is performed of short-run and long-run returns to scale, the extent of capital disequilibrium, and adjustments to way and structures capital in the heavily regulated and quasi-regulated environments before and after the passage of the Staggers Act in 1980. 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 provided by the Staggers Act. Supported by the National Science Foundation and MIT's Center for Energy Policy Research. 2009-12-15T23:56:03Z 2009-12-15T23:56:03Z 1991 Working Paper 91-013 http://hdl.handle.net/1721.1/50169 28596188 Working paper (Massachusetts Institute of Technology. Center for Energy Policy Research) ; MIT-CEPR 91-013. 38 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/1721.1/50169 |
| work_keys_str_mv | AT friedlaenderannfetter railcostsandcapitaladjustmentsinaquasiregulatedenvironment |