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Does Regulation Reduce Productivity? Evidence From Regulation of the U.S. Beet-Sugar Manufacturing Industry During the Sugar Acts, 1934-74

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Author Info
Benjamin Bridgman
Shi Qi
James Schmitz () (Federal Reserve Bank of Minneapolis)

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Abstract

Despite the pervasiveness of industry regulation, there are few studies of its impact on industry productivity. Assessing regulation's impact on productivity has been difficult for a number of reasons, including the complexity of regulations and the difficulty measuring productivity. We study an industry, the U.S. beet-sugar industry, where these problems and others are much less severe than is usual. While the U.S. beet-sugar industry has been protected from foreign competition since its inception over 100 years ago, it has been heavily regulated only during the 40 year period of the Sugar Acts, 1934-74. Regulations in this period were of two major forms. First, the government set up a mechanism to control both the amount of acres planted to sugar beets and beet-sugar produced by factories. Second, the government attempted to redistribute some of the "rents" earned in the industry. It sent checks to farmers based on the amount of sugar they "produced." Farmers produced sugar-in-the-crop, which we denote S, which equals the tons of beets harvested (T) multiplied by the fraction of sugar in the beet (q), or S=qâ‹…T. It also taxed factories on the amount of white sugar, or sugar-in-the-bag, they produced, which we denote Y. (Y is produced from S and, obviously, Y
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Publisher Info
Paper provided by Society for Economic Dynamics in its series 2006 Meeting Papers with number 438.

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Date of creation: 03 Dec 2006
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Handle: RePEc:red:sed006:438

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Related research
Keywords: regulation; productivity;

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Find related papers by JEL classification:
L0 - Industrial Organization - - General

References listed on IDEAS
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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.
  2. Richard Rogerson & Diego Restuccia, 2004. "Policy Distortions and Aggregate Productivity with Heterogeneous Plants," 2004 Meeting Papers 69, Society for Economic Dynamics. [Downloadable!]
    Other versions:
  3. 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)
  4. Christopher R. Knittel, 2004. "Regulatory Restructuring and Incumbent Price Dynamics: The Case of U.S. Local Telephone Markets," The Review of Economics and Statistics, MIT Press, vol. 86(2), pages 614-625, 04. [Downloadable!] (restricted)
  5. John S. Ying & Theodore E. Keeler, 1991. "Pricing in a Deregulated Environment: The Motor Carrier Experience," RAND Journal of Economics, The RAND Corporation, vol. 22(2), pages 264-273, Summer. [Downloadable!] (restricted)
  6. George J. Stigler, 1971. "The Theory of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 2(1), pages 3-21, Spring. [Downloadable!] (restricted)
  7. Harold L. Cole & Lee E. Ohanian, 2001. "New Deal policies and the persistence of the Great Depression: a general equilibrium analysis," Working Papers 597, Federal Reserve Bank of Minneapolis. [Downloadable!]
    Other versions:
  8. Thomas J. Holmes & James A. Schmitz, Jr., 2001. "Competition at work : railroads vs. monopoly in the U.S. shipping industry," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Spr, pages 3-29. [Downloadable!]
  9. Austan Goolsbee & Amil Petrin, 2004. "The Consumer Gains from Direct Broadcast Satellites and the Competition with Cable TV," Econometrica, Econometric Society, vol. 72(2), pages 351-381, 03. [Downloadable!] (restricted)
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