Subequilibrium in the North American Steel Industries: A Study of Short Run Biases from Regulation and Utilisation Fluctuations

Catherine Morrison Paul

Economic Journal, 1988, vol. 98, issue 391, 390-411

Abstract: The purpose of this paper has been to develop a short-run framework for assessment of various biases, including technical, output or "scale," utilization, and regulatory biases, to address questions about the impacts of exogenous shocks on firm behavior. This framework was then used to assess issues about the effects of regulation, utilization, output demand fluctuations, and technical change on the structure of the steel industry. The theoretical development as well as the application to the U.S. and Canadian steel industries indicate the wide-ranging applications of such a framework. Copyright 1988 by Royal Economic Society.

Date: 1988
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