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. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.