U.S. Freight Rail Economics and Policy

U.S. Freight Rail Economics and Policy

Author: Jeffrey T. Macher

Publisher: Routledge

ISBN: 9780429633645

Category: Business & Economics

Page: 300

View: 110

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.

Track Access Charges in Freight Transport

Track Access Charges in Freight Transport

Author: Justina Hudenko

Publisher: Cambridge Scholars Publishing

ISBN: 9781527535749

Category: Law

Page: 217

View: 311

Given that there are still many unclear concepts, mutual contradictions and imperfections in methodologies used in the field of track access charging, this book acts as a communication tool for researchers, and discusses these charges with regard to rail freight competitiveness. It addresses four main topics: namely, the technical features of freight transportation and the costs incurred; the impact of incoherence and volatility of freight traffic volume; the market response to the track access charge level; and the influence of transport policy and state subsidies. The text will appeal to infrastructure managers around the world, especially those in networks where there is an intention either to facilitate the shift of freight to railways or to develop rail freight corridors. It illustrates that there are significant differences in the causation of costs on passenger and freight railways, and raises important questions that must be considered when communicating with consumers and the state.

Mainstreams in Industrial Organization

Mainstreams in Industrial Organization

Author: H.W. de Jong

Publisher: Springer Science & Business Media

ISBN: 9789401704939

Category: Business & Economics

Page: 465

View: 424

The present two volumes contain the essays and part of the discussions as presented at the conference on Mainstreams in Industrial Organiza tion, held at the University of Amsterdam, 21-23 August 1985. The thema was chosen because the field of studies commonly designated "industrial organization" in the Anglo-Saxon countries, or "market theory" in Continental Europe, has experienced important alterations during the past decade. Partly this reflects changing theoretical views inside the field, in which shifts in the core concepts have occurred and different emphasis is laid on time-honoured views and results. Partly, critical views have been voiced from outside the field. As in all open scientific debate, they have to be weighed and, if necessary, taken into account. Partly also, diver gent developments in thinking between the Anglo-Saxon, European and Japanese areas need to be considered, because both the problems and the ways of approaching them still differ. The variety of views, theori~s and results is testimony to the vitality of this field of economics; variety is generated by the creative endeavours, from which the chaff is being beaten out by critical discussions. That is especially true for the concept of competition itself, which industrial organization economists are debating intensively.

Railways and Sustainable Low-Carbon Mobility in China

Railways and Sustainable Low-Carbon Mobility in China

Author: Linna Li

Publisher: Springer Nature

ISBN: 9789811590818

Category: Political Science

Page: 206

View: 280

This book explores the role of railways in developing sustainable low-carbon mobility by analyzing the intermodal relationship between railways and other transport modes. Focusing on geographical and governance perspectives, and taking China as a case study, it analyzes the competition and cooperation between and integration of railways and other transport modes, in order to provide guidance on future sustainable transport development. Firstly, the book examines the contribution of railways to low carbon emissions in China over recent decades by estimating the carbon dioxide emissions from various transport modes in China at national and regional levels using decomposition analysis. It then discusses the current competition and cooperation between railways and other transport modes, as well as their integration and the impact of their relationship on climate change. It also highlights how the competition between railways and other transport modes may change the passenger flows between city pairs and so alter transport carbon emissions and examines how cooperation and integration could improve passengers’ travel experience while at the same time reducing carbon emissions. Lastly, it addresses the implications for future sustainable transport development based on institutional analysis. Presenting multidisciplinary, sustainable transport research on the role of railways in reducing carbon emissions, and also offering policy recommendations for developing low-carbon, integrated transport in the future, this book is a valuable reference resource for graduates, researchers, and government managers responsible for transport development, urban planning and environmental policy.

Selected Works of Merton H. Miller

Selected Works of Merton H. Miller

Author: Merton H. Miller

Publisher: University of Chicago Press

ISBN: 9780226527482

Category: Business & Economics

Page: 417

View: 289

Widely regarded as one of the founders of modern corporate finance, Merton H. Miller was awarded a Nobel Prize in 1990 for his work in the theory of finance and financial economics. Selected Works of Merton H. Miller gathers together in two volumes a selection of Miller's most influential contributions over more than fifty years of active research. A common theme running throughout both volumes is Miller's conviction about the utility of market-based approaches to topics as diverse as dividend policy, bank regulation, the structure of securities markets, and competition between research universities and teaching colleges. Miller was perhaps best known for a series of highly influential papers he cowrote in the 1950s and 1960s with fellow Nobel laureate Franco Modigliani that advanced a set of capital structure theorems later dubbed the "M and M propositions." In brief, the M and M propositions state that the actions of investors, firms, and capital markets will cause the market value of a firm to be independent of its capital structure. In other words, a corporation's value depends on its investments in people, ideas, and physical capital goods and not on the mix of bonds, stocks, and other securities used to finance the investments. Four of these papers are reprinted here, together with important later work by Miller in macroeconomics, corporate capital structure, management science, asset pricing, and the economic and regulatory problems of the financial services industry. Diverse and innovative, the papers in Selected Works of Merton H. Miller will interest students and practitioners of economics, finance, and business, as well as policymakers responsible for market regulation.

American Railroad Politics, 1914–1920

American Railroad Politics, 1914–1920

Author: K. Austin Kerr

Publisher: University of Pittsburgh Pre

ISBN: 9780822975694

Category: History

Page: 260

View: 306

This book examines the concern of a variety of interest groups with federal policy toward railroads, concentrating on the crucial years during World War I when the federal government ran the industry, and prior to the passage of the Transportation Act of 1920. Through extensive archival research, James A. Kerr describes the political dealings among those involved in railroad-government relations: labor leaders; shippers; railroad executives; and financiers; and analyzes the motivations that influenced policymaking.

Light Rail Developers' Handbook

Light Rail Developers' Handbook

Author: Lewis Lesley

Publisher: J. Ross Publishing

ISBN: 9781604270488

Category: Technology & Engineering

Page: 272

View: 523

This unique book is for anyone interested in how to justify and build light rail systems in the age of limited resources and green technologies. The historical introduction addresses how many of the problems faced by light rail promoters and planners are not new and how existing solutions can be used to save time and money. The planning chapter explains the process of route identification on the basis of travel patterns and maximizing modal switch. The engineering chapter shows the costs of infrastructure, equipping and commissioning a new light rail system. The economic evaluation chapter shows promoters how each line can be assessed for viability, comparing the capital cost of construction with expected revenue, including sensitivity to different fares, market conditions, and operating costs. In conclusion, the book reviews how to keep a light rail system attractive to riders and investors after opening.Key Features: --Presents solutions to problems faced by light rail developers and planners saving both time and costs --Discusses the process of route identification on the basis of travel patterns and maximizing modal switches --Details the cost structure of equipping and commissioning a new light rail system --Explains how each rail line can be assessed for viability, comparing capital costs of construction with expected revenue (including sensitivity to different fares and market conditions) and operating costs