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A time series analysis of wages in deregulated industries: A study of motor carriage and rail

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Author Info
Kristen Monaco (California State University Long Beach)
Taggert J. Brooks (University of Wisconsin, La Crosse)
John Bitzan (North Dakota State University)

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Abstract

Using time series techniques, we contrast the impact of deregulation in trucking and rail labor markets. During regulation both labor markets were characterized by wages considerab y higher than manufacturing wages. In fact, trucking and rail wages had a stable, deterministic relationship prior to deregulation. After deregulation, however, the mean trucking wages fell considerably, approaching manufacturing wages, while rail wages remained relatively constant. We also find that deregulation’s negative impact on trucking wages was nondiscrete and occurred primarily between 1980 and 1984.

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File URL: http://www4.cema.edu.ar/pjae/m/125MonBrooBitz200605
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Publisher Info
Article provided by Universidad del CEMA in its journal Journal of Applied Economics.

Volume (Year): IX (2006)
Issue (Month): (May)
Pages: 105-118
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Handle: RePEc:cem:jaecon:v:9:y:2006:n:1:p:105-118

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Related research
Keywords: deregulation; trucking; rail;

Find related papers by JEL classification:
J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
L92 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Railroads and Other Surface Transportation
L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions

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  1. James M. MacDonald & Linda Cavalluzzo, 1996. "Railroad deregulation: Pricing reforms, shipper responses, and the effects on labor," Industrial and Labor Relations Review, ILR Review, ILR School, Cornell University, vol. 50(1), pages 80-91, October.
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  3. George J. Borjas & Richard B. Freeman & Lawrence F. Katz, 1991. "On the Labor Market Effects of Immigration and Trade," NBER Working Papers 3761, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  4. Wilson, Wesley W, 1997. "Cost Savings and Productivity in the Railroad Industry," Journal of Regulatory Economics, Springer, vol. 11(1), pages 21-40, January. [Downloadable!] (restricted)
  5. Hirsch, Barry T, 1993. "Trucking Deregulation and Labor Earnings: Is the Union Premium a Compensating Differential?," Journal of Labor Economics, University of Chicago Press, vol. 11(2), pages 279-301, April. [Downloadable!] (restricted)
  6. Rose, Nancy L, 1987. "Labor Rent Sharing and Regulation: Evidence from the Trucking Industry," Journal of Political Economy, University of Chicago Press, vol. 95(6), pages 1146-78, December. [Downloadable!] (restricted)
  7. Perron, Pierre, 1989. "The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis," Econometrica, Econometric Society, vol. 57(6), pages 1361-1401, November. [Downloadable!] (restricted)
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  8. Granger, C. W. J. & Newbold, P., 1974. "Spurious regressions in econometrics," Journal of Econometrics, Elsevier, vol. 2(2), pages 111-120, July. [Downloadable!] (restricted)
  9. Cheung, Yin-Wong & Chinn, Menzie David, 1996. "Deterministic, Stochastic, and Segmented Trends in Aggregate Output: A Cross-Country Analysis," Oxford Economic Papers, Oxford University Press, vol. 48(1), pages 134-62, January. [Downloadable!] (restricted)
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  10. Revenga, Ana L, 1992. "Exporting Jobs? The Impact of Import Competition on Employment and Wages in U.S. Manufacturing," The Quarterly Journal of Economics, MIT Press, vol. 107(1), pages 255-84, February. [Downloadable!] (restricted)
  11. Ellig, Jerry, 2002. "Railroad Deregulation and Consumer Welfare," Journal of Regulatory Economics, Springer, vol. 21(2), pages 143-67, March. [Downloadable!] (restricted)
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