Product market deregulation's winners and losers

Laura Padilla-Angulo, Guido Friebel, Gerard McCullough

Research output: Contribution to journalArticlepeer-review

Abstract

We account for the labour effects around the time of deregulation by investigating a comprehensive data set on US railroads that contain detailed finance, output, employment, and wage information for six different skill groups. We identify the effect of product market strategies and mergers on workers' employment and earnings. Railroads have downsized and they have restructured the composition of their human resources. The majority of employee groups have benefited in terms of compensation. Low-skilled workers, blue-collar workers, and administrative staff are the main losers. The main winners have been managers and locomotive drivers.

Original languageEnglish (US)
Pages (from-to)212-237
Number of pages26
JournalJournal of Transport Economics and Policy
Volume53
StatePublished - Jan 1 2019

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