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Changes in rail rates for U.S. commodity grain shipments over time

Author

Listed:
  • Miller, Keaton
  • Wilson, Wesley W.

Abstract

The deregulation of the U.S. railroad industry has largely been considered a success, as costs and rates have fallen due to changes in the mix of traffic and industry consolidation. However, rates did not fall as quickly as costs, and since 2000 rates have been rising while many measures of cost have remained relatively stable. We investigate these changes in rail rates using a sample of agricultural shipments from 2000–2016. We provide evidence that even after controlling for changes in cost drivers such as fuel, the relationships between prices and determinants have changed over time, suggesting that railroad pricing rules have driven increases in rates faced by shippers.

Suggested Citation

  • Miller, Keaton & Wilson, Wesley W., 2023. "Changes in rail rates for U.S. commodity grain shipments over time," Research in Transportation Economics, Elsevier, vol. 102(C).
    • Handle: RePEc:eee:retrec:v:102:y:2023:i:c:s0739885923000999
    DOI: 10.1016/j.retrec.2023.101359
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    More about this item

    Keywords

    Railroads; Deregulation; Agriculture; Commodities;
    All these keywords.

    JEL classification:

    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise
    • L92 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Railroads and Other Surface Transportation
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • Q02 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Commodity Market
    • Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices

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