Do Markets Reduce Costs? Assessing the Impact of Regulatory Restructuring on U.S. Electric Generation Efficiency

Kira Markiewicz, Nancy L. Rose, Catherine Wolfram

NBER Working Paper No. 11001
Issued in December 2004

---- Acknowledgements -----

Rose gratefully acknowledges support from the MIT Center for Energy and Environmental Policy Research (CEEPR), the Hoover Institution, the Guggenheim Foundation, and the National Bureau of Economic Research. We thank participants at NBER Productivity and Industrial Organization program meetings, the University of California Energy Institute POWER conference, and the MIT CEEPR conference, as well as seminar participants at Chicago, Harvard, MIT, UC Berkeley, UC Davis and Yale for their suggestions. Our work has benefited greatly from detailed comments by Mitali Das, Al Klevorick, Mark Roberts, Charles Rossman and Johannes Van Biesebroeck, and two anonymous referees. We thank Tom Wilkening for assistance in coding restructuring policies across states and Jen-Jen L'ao for assistance coding plant identities. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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