Product Market Deregulation's Winners and Losers: US Railroads between 1981 and 2001

Guido Friebel (), Gerard McCullough and Laura Padilla-Angulo

Working Papers from Universidad Loyola Andalucía, Department of Economics

Abstract: To properly account for labor effects of deregulation, one needs data sets that account for workers and firm heterogeneity. We investigate a comprehensive data set on US railroads. It contains detailed finance, output, employment and wage information for six different skill groups. We identify the effect of product market strategies and mergers on employment and earnings of workers. Railroads have downsized and they have restructured the composition of their human resources. The majority of employee groups have benefitted in terms of compensation. Low-skilled workers blue collars and administrative staff have been the main losers following deregulation, in terms of employment. The main winners are managers and locomotive drivers. The right-to-manage model we use has a good fit, except for executives, which indicates relevance of other types of personnel practices, for instance incentive contracts.

Keywords: matched worker/firm data; downsizing; rent-sharing; panel data; right-to-manage model (search for similar items in EconPapers)
JEL-codes: C23 J21 J30 L43 (search for similar items in EconPapers)
Pages: 46 pages
Date: 2016-04
New Economics Papers: this item is included in nep-com and nep-ind
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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