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U.S. Industry Adjustment to Economic Deregulation Author info | Abstract | Publisher info | Download info | Related research | Statistics Winston, Clifford
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This paper develops a framework to analyze the long-run adjustment of U.S. industries to economic deregulation, highlighting the role of intensified competition, innovations in operations, marketing, and technology, and adjustments to external shocks. The author applies this framework to industries that have recently undergone substantial deregulation--airlines, motor carriers, railroads, banks, and natural gas--and concludes that these industries have become far more efficient because of deregulation and provided large benefits to consumers. He concludes that the same adjustment process and positive outcome for consumers will result from the forthcoming deregulation of communications and electricity. Copyright 1998 by American Economic Association.
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Article provided by American Economic Association in its journal Journal of Economic Perspectives .
Volume (Year): 12 (1998)
Issue (Month): 3 (Summer)
Pages: 89-110
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Handle: RePEc:aea:jecper:v:12:y:1998:i:3:p:89-110Contact details of provider: Email: Web page: http://www.aeaweb.org/jep/ More information through EDIRC
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