An estimation of a dynamic cost function for the U.S. steel industry to investigate the cost of adjusting blue- and white-collar employment levels and to examine the importance of specification of the adjustment-cost function.

An examination of the plant-closing decisions of integrated steel firms in the United States from 1977-1987 to determine whether firm characteristics influenced either the probability or the timing of a plant's closing during this decade of significant industry contraction.

The development of a test for whether an industry reduces capacity by first closing its highest-cost plants, using plant-level data from the U.S. steel industry.

An examination of the effect of EPA enforcement activity as it relates to company plant-closing decisions and company compliance decisions in the U.S. steel industry, finding fewer enforcement actions taken toward plants with an already high probability of closing.

A study of how excess capacity in the steel industry has persisted because of high exit barriers that have delayed the industry's contraction; includes a discussion of the effects of current trade protection and pension policies on the size of exit barriers.