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- Union Wage Gains Under Regulation
Union Wage Gains Under Regulation
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Excerpt from Union Wage Gains Under Regulation: Evidence From the Trucking Industry
This paper uses wage evidence to investigate the ability of the Teamsters Union to capture a share of regulatory rents in the trucking industry. Previous work has documented the existence of monopoly rents in the motor carrier industry, and has linked these to economic regulation of the industry by the Interstate Commerce Commission (icc).1 However, there has been relatively little economic analysis of the Teamsters' role in the trucking industry.2 This is a potentially serious oversight, the Teamsters have been a powerful force in the industry, and been perhaps as influential as ICC regulation in determining the performance of trucking firms. In addition, an investigation of union behavior in this industry may yield insights relevant to other regulated markets. The interaction of unionization and regulation was explored briefly by Hendricks with respect to electric utilities. The trucking industry is a fertile ground for evaluating potential interactions, due to the strength of both the union and regulatory protection.
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