The DOI matches its Crossref record; 4 of the 4 references it cites were found in a registry or an index.
Do Markets Reduce Costs? Assessing the Impact of Regulatory Restructuring on US Electric Generation Efficiency
Abstract
While neoclassical models assume static cost-minimization by firms, agency models suggest that firms may not minimize costs in less-competitive or regulated environments. We test this using a transition from cost-of-service regulation to market-oriented environments for many US electric generating plants. Our estimates of input demand suggest that publicly owned plants, whose owners were largely insulated from these reforms, experienced the smallest efficiency gains, while investor-owned plants in states that restructured their wholesale electricity markets improved the most. The results suggest modest medium-term efficiency benefits from replacing regulated monopoly with a market-based industry structure. (JEL D24, L11, L51, L94, L98)
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Cites
Initial conditions and moment restrictions in dynamic panel data models
Blundell, R., & Bond, S. (1998) · Journal of Econometrics · doi:10.1016/s0304-4076(98)00009-8 · Cited by 22,571
Specification Tests in Econometrics
Hausman, J. A. (1978) · Econometrica · doi:10.2307/1913827 · Cited by 18,820
Initial conditions and moment restrictions in dynamic panel data models
Blundell, R., & Bond, S. (1995) · Working Paper Series · doi:10.1920/wp.ifs.1995.9517 · Cited by 14,755
“Market Structure and Productivity: A Concrete Example”
Syverson, C. (2004) · Journal of Political Economy · doi:10.1086/424743 · Cited by 683
Cited by
Syverson, C. (2011) · Journal of Economic Literature · doi:10.1257/jel.49.2.326 · Cited by 2,942
Greenwash vs. Brownwash: Exaggeration and Undue Modesty in Corporate Sustainability Disclosure
Kim, E.-H., & Lyon, T. P. (2015) · Organization Science · doi:10.1287/orsc.2014.0949 · Cited by 932
INNOVATION AND COMPETITIVE PRESSURE*
VIVES, X. (2008) · The Journal of Industrial Economics · doi:10.1111/j.1467-6451.2008.00356.x · Cited by 674
Residential consumption of gas and electricity in the U.S.: The role of prices and income
Alberini, A., Gans, W., & Velez-Lopez, D. (2011) · Energy Economics · doi:10.1016/j.eneco.2011.01.015 · Cited by 379
Metadata
- Authors
- Fabrizio, K. R., Rose, N. L., & Wolfram, C. D.
- Venue
- American Economic Review
- Publisher
- American Economic Association
- Published
- 2007-08-01
- Volume
- 97
- Issue
- 4
- Pages
- 1250-1277
- ISSN
- 0002-8282 (ISSN-L)
- OpenAlex
- W3125035752
- Cited by
- 399
- References
- 4
- FWCI
- 21.11
- Type
- journal article
- Language
- en
- Open access
- closed
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- Fabrizio, K. R., Rose, N. L., & Wolfram, C. D. (2007). Do Markets Reduce Costs? Assessing the Impact of Regulatory Restructuring on US Electric Generation Efficiency. American Economic Review. https://doi.org/10.1257/aer.97.4.1250
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
