from, individual markets. We show that this gives rise to a new mechanism by which a cartel can sustain a collusive …

it is detected. We propose a theory of "equilibrium price cutting and business stealing" in cartels to bridge this gap … between theory and observation …

; this is equivalent to modeling firms as an implicit cartel playing a punishment game. We show that coordination can …

model framework, we use the fact that many cartel policies are observationally equivalent to a country-specific labor tax … wedge. We estimate a monetary DSGE model with cartel wedges along with productivity and monetary shocks. Our main finding is … that cartel policy shocks account for the bulk of the Depression in the countries that adopted significant cartel policies …

recent cartel cases, as well as at a broader cross-section of 42 recently prosecuted international cartels. We discuss the …

century. These established markets are completely dominated by an incumbent cartel composed of several member shipping lines …. The cartel makes the decision whether or not to begin a price war against the entrant; some entrants are formally admitted … to the cartel without any conflict. I use characteristics of the entrant to predict whether or not the entrant will …