Mining Surplus: Modeling James A. Schmitz's Link Between Competition and Productivity
James A. Schmitz (2005) documents, in a well-known case study, a dramatic rise in productivity in the U.S. and Canadian iron-ore industry following an increase in competition from Brazil. Prior to the increased competition, the industry was not competitive. Surplus in profits was divided between business and unions. Schmitz attributes the increase in productivity to a change in work practices in the industry, as old negotiated union work rules were abandoned or modified. This research formalizes a mechanism through which a rise in competition can lead to increased productivity in the iron-ore industry.
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|Date of creation:||Oct 2013|
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- Thomas J. Holmes & James A. Schmitz, 2010. "Competition and productivity: a review of evidence," Staff Report 439, Federal Reserve Bank of Minneapolis.
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- 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.
- Emin Dinlersoz & Henry Hyatt & Jeremy Greenwood, 2014. "What Businesses Attract Unions? Unionization over the Life-Cycle of U.S. Establishments," Economie d'Avant Garde Research Reports 24, Economie d'Avant Garde.
- James A. Schmitz, 2005.
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286, Federal Reserve Bank of Minneapolis.
- James A. Schmitz Jr., 2005. "What Determines Productivity? Lessons from the Dramatic Recovery of the U.S. and Canadian Iron Ore Industries Following Their Early 1980s Crisis," Journal of Political Economy, University of Chicago Press, vol. 113(3), pages 582-625, June.
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