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Inferring conduct under the threat of entry: the case of the Brazilian cement industry

Salvo, Alberto - London School of Economics (LSE) - 2004

-entry prices, cost and conduct are not identified from the comparative statics of equilibrium. In such a setting, the identifying … alternative hypotheses of conduct is shown to fail. The Brazilian cement industry, where the threat of imports restrains market … considerably biased downward, underestimating the degree of market power. A test of conduct is proposed, adapted to this …

Persistent link: https://www.econbiz.de/10010746001

Simple tests for models of dependence between multiple financial time series, with applications to U.S. equity returns and exchange rates

Chen, Xiaohong; Fan, Yanqin; Patton, Andrew J. - London School of Economics (LSE) - 2004

Evidence that asset returns are more highly correlated during volatile markets and during market downturns (see Longin and Solnik, 2001, and Ang and Chen, 2002) has lead some researchers to propose alternative models of dependence. In this paper we develop two simple goodness-of-fit tests for...

Persistent link: https://www.econbiz.de/10010746302

Are "market neutral" hedge funds really market neutral?

Patton, Andrew J. - London School of Economics (LSE) - 2004

standard correlation-based definition of neutrality. Variance neutrality, Value-at-Risk neutrality and tail neutrality all …

Persistent link: https://www.econbiz.de/10010746652

Inference on power law spatial trends (Running Title: Power Law Trends)

Robinson, Peter M. - London School of Economics (LSE) - 2011

Power law or generalized polynomial regressions with unknown real-valued exponents and coefficients, and weakly dependent errors, are considered for observations over time, space or space-time. Consistency and asymptotic normality of nonlinear least squares estimates of the parameters are...

Persistent link: https://www.econbiz.de/10011126136

Tax compliance and firms' strategic interdependence

Bayer, R; Cowell, Frank - London School of Economics (LSE) - 2006

We focus on a relatively neglected area of the tax-compliance literature in economics, the behaviour of firms. We examine the impact of alternative audit rules on receipts from a tax on profits in the context of strategic inter- dependence of firms. In the market firms may compete in terms of...

Persistent link: https://www.econbiz.de/10010744853

A general model of information sharing in oligopoly

Raith, Michael A. - London School of Economics (LSE) - 1993

Under which circumstances do oligopolists have an incentive to share private information about a stochastic demand or stochastic costs? We present a general model which includes virtually all models of the existing literature on information sharing as special cases. The analysis reveals that in...

Persistent link: https://www.econbiz.de/10010746320

Multiproduct firms, income distribution, and trade

Schafgans, Marcia M. A.; Stibora, Joachim - London School of Economics (LSE) - 2014

We develop a general equilibrium model of multiproduct fi…rms with quality differentiated goods. Households are characterized by an heterogeneous taste for the differentiated good and their income level. The use of non-homothetic preferences and vertical product differentiation (product...

Persistent link: https://www.econbiz.de/10011126464