Railroad Capital Stock Changes in the Post-Deregulation Period

This paper involves the estimation of a model of railway road and equipment capital stocks and the changes in their levels that have occurred since 1983. The model is based on balancing the level of investment and the level of degradation of the capital stocks to create a data series for roadway capital and for equipment capital. A two-stage least squares errors in variables model is applied. This is appropriate as degradation and exact constant dollar investment are not directly observable. Results obtained from the model indicate that Class I railroads have increased their absolute capital stock levels over the period examined. This holds for both roadway and equipment capital although roadway capital has increased at a somewhat faster rate.


Subject(s):
Issue Date:
2007
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/206878
Published in:
Journal of the Transportation Research Forum, Volume 46, Number 1
Page range:
94-110
Total Pages:
17




 Record created 2017-04-01, last modified 2017-08-28

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