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Using Labor Productivity Change Estimates as an Input for X-Factors in Price-Cap Regulation

Listed author(s):
  • Martín Rossi

    ()

    (Department of Economics, Universidad de San Andres)

In this paper I provide an estimate of labor productivity growth for the electricity distribution sector in Latin America, in the period 1994 to 2001. I report an annual rate of labor productivity change of about 6%. A comparison of the changes in prices and labor productivity reveals that, in most cases, final prices to customers did not fall to reflect the huge labor productivity gains that were achieved during the period under analysis.

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File URL: ftp://webacademicos.udesa.edu.ar/pub/econ/doc118.pdf
File Function: First version, 2015
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Paper provided by Universidad de San Andres, Departamento de Economia in its series Working Papers with number 118.

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Length: 21 pages
Date of creation: Feb 2015
Date of revision: Feb 2015
Handle: RePEc:sad:wpaper:118
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  1. Estache, Antonio & Rossi, Martin A., 2005. "Do regulation and ownership drive the efficiency of electricity distribution? Evidence from Latin America," Economics Letters, Elsevier, vol. 86(2), pages 253-257, February.
  2. Jean-Jacques Laffont & Jean Tirole, 1993. "A Theory of Incentives in Procurement and Regulation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262121743, July.
  3. Caves, Douglas W & Christensen, Laurits R & Swanson, Joseph A, 1981. "Productivity Growth, Scale Economies, and Capacity Utilization in U.S. Railroads, 1955-74," American Economic Review, American Economic Association, vol. 71(5), pages 994-1002, December.
  4. Kumbhakar, Subal C. & Hjalmarsson, Lennart, 1998. "Relative performance of public and private ownership under yardstick competition: electricity retail distribution," European Economic Review, Elsevier, vol. 42(1), pages 97-122, January.
  5. Kridel, Donald J & Sappington, David E M & Weisman, Dennis L, 1996. "The Effects of Incentive Regulation in the Telecommunications Industry: A Survey," Journal of Regulatory Economics, Springer, vol. 9(3), pages 269-306, May.
  6. Bernstein, Jeffrey I & Sappington, David E M, 1999. "Setting the X Factor in Price-Cap Regulation Plans," Journal of Regulatory Economics, Springer, vol. 16(1), pages 5-25, July.
  7. Crew, Michael A & Kleindorfer, Paul R, 2002. "Regulatory Economics: Twenty Years of Progress?," Journal of Regulatory Economics, Springer, vol. 21(1), pages 5-22, January.
  8. Toru Hattori, 2002. "Relative Performance of U.S. and Japanese Electricity Distribution: An Application of Stochastic Frontier Analysis," Journal of Productivity Analysis, Springer, vol. 18(3), pages 269-284, November.
  9. Pablo Serra & Ronald Fischer, 2000. "Regulating the Electricity Sector in Latin America," ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION, ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION, vol. 0(Fall 2000), pages 155-218, August.
  10. Vogelsang, Ingo, 2002. "Incentive Regulation and Competition in Public Utility Markets: A 20-Year Perspective," Journal of Regulatory Economics, Springer, vol. 22(1), pages 5-27, July.
  11. Mark Armstrong & Simon Cowan & John Vickers, 1994. "Regulatory Reform: Economic Analysis and British Experience," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262510790, July.
  12. Jamasb, T. & Pollitt, M., 2000. "Benchmarking and regulation: international electricity experience," Utilities Policy, Elsevier, vol. 9(3), pages 107-130, September.
  13. Førsund, Finn R. & Kittelsen, Sverre A. C., 1998. "Productivity development of Norwegian electricity distribution utilities," Resource and Energy Economics, Elsevier, vol. 20(3), pages 207-224, September.
  14. Bernstein, Jeffrey I. & Sappington, David E. M., 2000. "How to determine the X in RPI-X regulation: a user's guide," Telecommunications Policy, Elsevier, vol. 24(1), pages 63-68, February.
  15. Jamasb, T. & Pollitt, M., 2001. "International Benchmarking and Yardstick Regulation: An Application to European Electricity Utilities," Cambridge Working Papers in Economics 0115, Faculty of Economics, University of Cambridge.
  16. Leland Gerson Neuberg, 1977. "Two Issues in the Municipal Ownership of Electric Power Distribution," Bell Journal of Economics, The RAND Corporation, vol. 8(1), pages 303-323, Spring.
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