Estimating the effects of entry regulation in the Istanbul taxicab market
The economic literature shows that entry regulation in taxicab markets brings about a dramatic increase in medallion prices or license values of taxicabs. However, there is no study estimating what the effect of regulation is exactly on real medallion prices. We develop a model to estimate the effect of entry restrictions in the Istanbul taxicab market over real medallion prices and inflation. Our findings contribute that entry regulation in taxicab markets increases medallion prices. Moreover, we find that entry regulation in Istanbul pressures inflation rates as well.
Volume (Year): 45 (2011)
Issue (Month): 6 (July)
|Contact details of provider:|| Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/547/description#description|
|Order Information:|| Postal: http://www.elsevier.com/wps/find/supportfaq.cws_home/regional|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Perron, P, 1988.
"The Great Crash, The Oil Price Shock And The Unit Root Hypothesis,"
338, Princeton, Department of Economics - Econometric Research Program.
- 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.
- Schmidt, Peter & Phillips, C B Peter, 1992. "LM Tests for a Unit Root in the Presence of Deterministic Trends," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 54(3), pages 257-87, August.
- Jean-Jacques LAFFONT & Jean TIROLE, 1990.
"The Politics of Government Decision-Making : a Theory of Regulatory Capture,"
Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP)
9004, Université de Lausanne, Faculté des HEC, DEEP.
- Jean-Jacques Laffont & Jean Tirole, 1991. "The Politics of Government Decision-Making: A Theory of Regulatory Capture," The Quarterly Journal of Economics, Oxford University Press, vol. 106(4), pages 1089-1127.
- Jean-Jacques Laffont & Jean Tirole, 1988. "The Politics of Government Decision-Making: A Theory of Regulatory Capture," Working papers 506, Massachusetts Institute of Technology (MIT), Department of Economics.
- M. Hashem Pesaran & Yongcheol Shin, 2002.
"Long-Run Structural Modelling,"
Taylor & Francis Journals, vol. 21(1), pages 49-87.
- Pesaran,H.M. & Shin,Y., 1995. "Long-Run Structural Modelling," Cambridge Working Papers in Economics 9419, Faculty of Economics, University of Cambridge.
- Mohammad Hashem Pesaran & Yongcheol Shin, 1999. "Long-Run Structural Modelling," ESE Discussion Papers 44, Edinburgh School of Economics, University of Edinburgh.
- Junsoo Lee & Mark C. Strazicich, 2004.
"Minimum LM Unit Root Test with One Structural Break,"
04-17, Department of Economics, Appalachian State University.
- Junsoo Lee & Mark C. Strazicich, 2013. "Minimum LM unit root test with one structural break," Economics Bulletin, AccessEcon, vol. 33(4), pages 2483-2492.
- Tom Doan, . "LSUNIT: RATS procedure to implement Lee-Strazicich unit root tests with one or more structural breaks," Statistical Software Components RTS00112, Boston College Department of Economics.
- repec:oxf:wpaper:2000-w22 is not listed on IDEAS
- Bent Nielsen, 2000.
"Cointegration Analysis in the Presence of Structural Breaks in the Deterministic Trend,"
Econometric Society World Congress 2000 Contributed Papers
1494, Econometric Society.
- Søren Johansen & Rocco Mosconi & Bent Nielsen, 2000. "Cointegration analysis in the presence of structural breaks in the deterministic trend," Econometrics Journal, Royal Economic Society, vol. 3(2), pages 216-249.
- Benedikt Koehler, 2005. "Licence Values In Taxi Markets," Economic Affairs, Wiley Blackwell, vol. 25(2), pages 52-54, 06.
- Cairns, Robert D. & Liston-Heyes, Catherine, 1996. "Competition and regulation in the taxi industry," Journal of Public Economics, Elsevier, vol. 59(1), pages 1-15, January.
- Yang, Hai & Ye, Min & Tang, Wilson H. & Wong, S.C., 2005. "Regulating taxi services in the presence of congestion externality," Transportation Research Part A: Policy and Practice, Elsevier, vol. 39(1), pages 17-40, January.
- Schaller, Bruce, 2007. "Entry controls in taxi regulation: Implications of US and Canadian experience for taxi regulation and deregulation," Transport Policy, Elsevier, vol. 14(6), pages 490-506, November.
- Baumol, William J, 1990. "Entrepreneurship: Productive, Unproductive, and Destructive," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 893-921, October.
- Christian Seibert, 2006. "Taxi Deregulation And Transaction Costs," Economic Affairs, Wiley Blackwell, vol. 26(2), pages 71-73, 06.
- Yang, Hai & Fung, C.S. & Wong, K.I. & Wong, S.C., 2010. "Nonlinear pricing of taxi services," Transportation Research Part A: Policy and Practice, Elsevier, vol. 44(5), pages 337-348, June.
- Søren Johansen, 2005. "Interpretation of Cointegrating Coefficients in the Cointegrated Vector Autoregressive Model," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 67(1), pages 93-104, 02.
- Beesley, Michael E & Glaister, Stephen G, 1983. "Information for Regulating: The Case of Taxis," Economic Journal, Royal Economic Society, vol. 93(371), pages 594-615, September.
- Junsoo Lee & Mark C. Strazicich, 2003. "Minimum Lagrange Multiplier Unit Root Test with Two Structural Breaks," The Review of Economics and Statistics, MIT Press, vol. 85(4), pages 1082-1089, November.
- P S Morrison, 1997. "Restructuring Effects of Deregulation: The Case of the New Zealand Taxi Industry," Environment and Planning A, SAGE Publishing, vol. 29(5), pages 913-928, May.
- Adrian T. Moore & Ted Balaker, 2006. "Do Economists Reach a Conclusion on Taxi Deregulation?," Econ Journal Watch, Econ Journal Watch, vol. 3(1), pages 109-132, January.
- Kitch, Edmund W & Isaacson, Marc & Kasper, Daniel, 1971. "The Regulation of Taxicabs in Chicago," Journal of Law and Economics, University of Chicago Press, vol. 14(2), pages 285-350, October.
- Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
- Gallick, Edward C & Sisk, David E, 1987. "A Reconsideration of Taxi Regulation," Journal of Law, Economics and Organization, Oxford University Press, vol. 3(1), pages 117-28, Spring.
- Häckner, Jonas & Nyberg, Sten, 1992. "Deregulating Taxi Services - A Word of Caution," Working Paper Series 353, Research Institute of Industrial Economics.
- Sean D. Barrett, 2003. "Regulatory Capture, Property Rights And Taxi Deregulation: A Case Study," Economic Affairs, Wiley Blackwell, vol. 23(4), pages 34-40, December.
- P S Morrison, 1997. "Restructuring effects of deregulation: the case of the New Zealand taxi industry," Environment and Planning A, Pion Ltd, London, vol. 29(5), pages 913-928, May.
When requesting a correction, please mention this item's handle: RePEc:eee:transa:v:45:y:2011:i:6:p:476-484. See general information about how to correct material in RePEc.
If references are entirely missing, you can add them using this form.