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How Do Supply Shocks to Inflation Generalize? Evidence from the Pandemic Era in Europe

Acharya, Viral V.; Crosignani, Matteo; Eisert, Tim; … - National Bureau of Economic Research - 2023

We document how supply-chain pressures, household inflation expectations, and firm pricing power interacted to induce the pandemic-era surge in consumer price inflation in the euro area. Initially, supply-chain pressures increased inflation through a cost-push channel and raised inflation...

Persistent link: https://www.econbiz.de/10014421216

Price Setting with Strategic Complementarities as a Mean Field Game

Alvarez, Fernando; Lippi, Francesco; Souganidis, Takis - National Bureau of Economic Research - 2022

We study the propagation of monetary shocks in a sticky-price general-equilibrium economy where the firms' pricing strategy feature a complementarity with the decisions of other firms. In a dynamic equilibrium the firm's price-setting decisions depend on aggregates, which in turn depend on...

Persistent link: https://www.econbiz.de/10013334411

European Pharmaceutical Price Regulation, Firm Profitability, and R&D Spending

Golec, Joseph H. - 2006

EU countries closely regulate pharmaceutical prices whereas the U.S. does not. This paper shows how price constraints affect the profitability, stock returns, and R&D spending of EU and U.S. firms. Compared to EU firms, U.S. firms are more profitable, earn higher stock returns, and spend more on...

Persistent link: https://www.econbiz.de/10012465985

Algorithmic Pricing : Implications for Consumers, Managers, and Regulators

Spann, Martin; Bertini, Marco; Koenigsberg, Oded; … - National Bureau of Economic Research - 2024

Over the past decade, an increasing number of firms have delegated pricing decisions to algorithms in consumer markets such as travel, entertainment, and retail; business markets such as digital advertising; and platform markets such as ride-sharing. This trend, driven primarily by the increased...

Persistent link: https://www.econbiz.de/10014576568

Antitrust and Regulation

Carlton, Dennis W. - 2007

Since the passage of the Interstate Commerce Act (1897) and the Sherman Act (1890), regulation and antitrust have … operated as competing mechanisms to control competition. Regulation produced cross-subsidies and favors to special interests … antitrust and regulation. Antitrust and regulation can also be viewed as complements in which regulation and antitrust assign …

Persistent link: https://www.econbiz.de/10012465754

Vertical Arrangements, Market Structure, and Competition An Analysis of Restructured U.S. Electricity Markets

Bushnell, James B. - 2007

This paper examines vertical arrangements in electricity markets. Vertically integrated wholesalers, or those with long-term contracts, have less incentive to raise wholesale prices when retail prices are determined beforehand. For three restructured markets, we simulate prices that define...

Persistent link: https://www.econbiz.de/10012465139

The Competition Between Competition Rules

Sinn, Hans-Werner - 1999

Open borders imply systems competition. This paper studies the implications of systems competition for the national competition rules. It is shown that an equilibrium where all countries retain their antitrust laws does not exist, since abolishing this law makes it possible for a single country...

Persistent link: https://www.econbiz.de/10012471517

A Dynamic Analysis of the Market for Wide-Bodied Commercial Aircraft

Benkard, C. Lanier - 2000

This paper develops a multi-agent dynamic model of the commercial aircraft industry and then uses that model to analyze industry pricing, industry performance, and optimal industry policy. In the model, firms are differentiated in their products and cost structure, and entry, exit, prices, and...

Persistent link: https://www.econbiz.de/10012471051

The Impact of US News and World Report College Rankings on Admission Outcomes and Pricing Decisions at Selective Private Institutions

Monks, James - 1999

Despite the widespread popularity of the U.S. News & World Report College rankings there has been no empirical analysis of the impact of these rankings on applications, admissions, and enrollment decisions, as well as on institutions' pricing policies. Our analyses indicate that a less favorable...

Persistent link: https://www.econbiz.de/10012471562

Sticky Prices, Coordination and Collusion

Driscoll, John C. - 1999

New Keynesian models of price setting under monopolistic competition involve two kinds of inefficiency: the price level is too high because firms ignore an aggregate demand externality, and when there are costs of changing prices, price stickiness may be an equilibrium response to changes in...

Persistent link: https://www.econbiz.de/10012471622

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