Economic Foundations For 21st Century Freight Rail Rate Regulation PDF Download
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Author | : John W. Mayo |
Publisher | : |
Total Pages | : 34 |
Release | : 2019 |
Genre | : |
ISBN | : |
Download Economic Foundations for 21st Century Freight Rail Rate Regulation Book in PDF, ePub and Kindle
The Staggers Rail Act of 1980 made a substantial break from an almost century-old policy of pervasively regulating the prices for freight rail services provided in the United States. In particular, rather than regulators establishing prices, Staggers permits shippers and railroads to voluntarily negotiate rates, terms and conditions, with regulation providing a fallback if negotiation fails or is too onerous for what is at stake on the shipment. While largely deregulating the rate-setting process, the statute requires that rates be “reasonable” in the event of a complaint filed by a shipper and where a railroad is found to be market dominant - a requirement that necessitates that regulators determine a method for assessing whether a given rate or set of rates is, in fact, reasonable. In the wake of the passage of Staggers, the Interstate Commerce Commission (ICC) [now the Surface Transportation Board (STB)] established the method for determining whether a rate is “reasonable,” in which case the rate is allowed to stand; or whether the rate is unreasonable and must be reduced. The system, known as Constrained Market Pricing (CMP), was established largely on a bedrock of economic theory and has been in place now for almost thirty-five years. Yet, absent a refresher, the passage of time creates the prospect that the economic foundations of CMP will fade. The purpose of this paper is to provide that refresher. Along the way we seek to re-establish the fundamental economic appeal of CMP, reflect on criticisms and alternatives that have been proffered, and offer refinements for rail regulation moving forward.
Author | : Jeffrey T. Macher |
Publisher | : Routledge Studies in Transport Analysis |
Total Pages | : 300 |
Release | : 2019 |
Genre | : Railroads |
ISBN | : 9780367142834 |
Download U.S. Freight Rail Economics and Policy Book in PDF, ePub and Kindle
The passage of the Staggers Rail Act in 1980 led brought a renaissance to the freight rail industry. In the decade following, economists documented the effects of the Act on a variety of important economic metrics including prices, costs, and productivity. Over the preceding years, and with the return of the industry to more stable footing, attention to the industry by economists faded. The lack of attention, however, has not been due to a dearth of ongoing economic and policy issues that continue to confront the industry. In this volume, we begin to rectify this inattention. Rather than retread older analyses or provide yet another look at the consequences of Staggers, we assemble a collection of ten chapters in four sections that collectively provide fresh and up-to-date analyses of the economic issues and policy challenges the industry faces: the first section sets the context through foundational discussion of freight rail; the second section highlights the role of freight rail in an increasingly interrelated economy; the third section examines industry structure and scope in freight rail; and the fourth section assesses current regulatory challenges that confront freight rail. This book will be of great value to researchers, academics, policymakers, and students interested in the fields of freight rail economics and policy, transportation, business history, and regulatory economics. he role of freight rail in an increasingly interrelated economy; the third section examines industry structure and scope in freight rail; and the fourth section assesses current regulatory challenges that confront freight rail. This book will be of great value to researchers, academics, policymakers, and students interested in the fields of freight rail economics and policy, transportation, business history, and regulatory economics.
Author | : |
Publisher | : DIANE Publishing |
Total Pages | : 47 |
Release | : 2002 |
Genre | : |
ISBN | : 1428945644 |
Download Railroad regulation changes in freight railroad rates from 1997 through 2000. Book in PDF, ePub and Kindle
Author | : Clifford Winston |
Publisher | : Brookings Institution Press |
Total Pages | : 92 |
Release | : 2010-12-01 |
Genre | : Business & Economics |
ISBN | : 9780815714385 |
Download The Economic Effects of Surface Freight Deregulation Book in PDF, ePub and Kindle
For close to 100 years, America's surface freight industries, primarily rail and trucking, operated under the protective wing of the U.S. government. In 1980 Congress, finding vast inefficiencies in the two industries, substantially deregulated both, opening them at last to market competition. Deregulation has brought with it many changes—for firms within the industries, for their labor force, and for shippers and their customers. Clifford Winston, Thomas M. Corsi, Curtis M. Grimm, and Carol A Evans provide a comprehensive evaluation of the effect of the deregulation legislation on the rail and trucking industries. According to the authors, deregulation has made substantial progress in solving the two most vexing problems of the surface freight transportation industry—excessive rates in the trucking industry and insufficient returns on investment in the rail industry. Competition and efficiency have returned to both industries, and although the labor force in each has suffered wage and job losses, shippers and their customers have gained roughly $20 billion a year in benefits. The authors recommend policies that would continue to promote competition and the efficient use of highway and railway infrastructure.
Author | : Albert Newton Merritt |
Publisher | : |
Total Pages | : 270 |
Release | : 1907 |
Genre | : Railroads |
ISBN | : |
Download Federal Regulation of Railway Rates Book in PDF, ePub and Kindle
Author | : United States. General Accounting Office |
Publisher | : |
Total Pages | : 52 |
Release | : 2002 |
Genre | : Freight and freightage |
ISBN | : |
Download Railroad Regulation Book in PDF, ePub and Kindle
Author | : Harry Gunnison Brown |
Publisher | : |
Total Pages | : 372 |
Release | : 1916 |
Genre | : Railroads |
ISBN | : |
Download Transportation Rates and Their Regulation Book in PDF, ePub and Kindle
Author | : James Alfred Caron |
Publisher | : |
Total Pages | : 226 |
Release | : 1979 |
Genre | : Railroads |
ISBN | : |
Download The Economics of Rail Freight Transportation Rate Regulation, Excess Capacity, and Competition Book in PDF, ePub and Kindle
Author | : William Zebina Ripley |
Publisher | : New York : Longmans, Green, 1912, t.p. 1916. |
Total Pages | : 696 |
Release | : 1912 |
Genre | : Railroads |
ISBN | : |
Download Railroads Book in PDF, ePub and Kindle
Author | : Hugo Richard Meyer |
Publisher | : |
Total Pages | : 530 |
Release | : 1905 |
Genre | : Railroads |
ISBN | : |
Download Government Regulation of Railway Rates Book in PDF, ePub and Kindle