Authors: Lim, Siew Hoon; Lovell, C. A. Knox

Source: Journal of Transport Economics and Policy (JTEP), Volume 42, Number 1, January 2008 , pp. 155-188(34)

Publisher: Journal of Transport Economics and Policy

Abstract:

This paper examines how productivity changes contribute to short-run cost variations over time and across railroads. Using an unbalanced panel of US Class I railroad data for the period 1996-2003, decomposition models were used to attribute intertemporal and multilateral cost variations to their causal factors. We find that (i) railroads were able to reduce their physical capitals in recent years; (ii) railroads experienced technical progress over time, but they were technically and allocatively inefficient in some time periods; and (iii) the benchmarking railroads could learn from the low-cost and cost-efficient benchmark when it comes to cost savings.

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Document Type: Research article

Publication date: 2008-01-01

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