Replication data for: Bailouts and the Preservation of Competition: The Case of the Federal Timber Contract Payment Modification Act

Principal Investigator(s): View help for Principal Investigator(s) James W. Roberts; Andrew Sweeting

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Replication-Materials			10/25/2021 03:27:PM
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Project Citation:

Roberts, James W., and Sweeting, Andrew. Replication data for: Bailouts and the Preservation of Competition: The Case of the Federal Timber Contract Payment Modification Act. Nashville, TN: American Economic Association [publisher], 2016. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114339V1

Project Description

Summary: We estimate the value of competition in United States Forest Service (USFS) timber auctions, in the context of the Reagan administration's bailout of firms that faced substantial losses on existing contracts. We use a model with endogenous entry by asymmetric firms, allowing survivors to respond to the exit of bailed-out firms by entering more auctions and for these marginal entrants to have lower values than firms that would choose to enter in any event, a selective entry effect. Observed asymmetries and selective entry contribute to us finding that the bailout may have increased USFS revenues in subsequent auctions quite substantially.

Scope of Project

JEL Classification:
      D44 Auctions
      H81 Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts
      H82 Governmental Property
      L73 Forest Products
      Q23 Renewable Resources and Conservation: Forestry

Geographic Coverage: Western US

Time Period(s): 1982 – 1989

Methodology

Data Source: USFS

Unit(s) of Observation: Individual,

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Published Versions

V1 [2019-10-12]

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