This paper investigates the determinants of vertical integration. We first derive a number of predictions regarding the relationship between technology intensity and vertical integration from a simple model with nancial imperfections andincomplete contracts. Then, we investigate these...

We examine the economic analysis of the relationship between innovation and product market competition. First, we give a brief tour of the intellectual history of the area. Second, we examine how the Aghion-Howitt framework has influenced the development of the literature theoretically and...

The share of home-cooked food in the diet of UK households declined from the 1980s. This was contemporaneous with a decline in the market price of ingredients for home cooking relative to ready-to-eat foods. We consider a simple model of food consumption and time use which captures the key...

Sugary drinks taxes have been implemented around the world and governments around the world are considering extending these taxes to address concerns about rising obesity. We demonstrate the range of impacts a tax on added sugar and salt could have on purchases of food at home and out of the...

We evaluate the impact of a price floor for alcohol introduced in Scotland in 2018, using a difference-in-differences strategy with England as a control group. We show that the policy led to the largest reductions in alcohol units purchased among the heaviest drinkers – the group who, at the...

We examine the distributional consequences of post-Brexit trade barriers on wages in the UK. We quantify changes in trade costs across industries accounting for input-output links across domestic industries and global value chains. We allow for demand substitution by firms and consumers and...

We study the introduction of a price floor for alcohol that is aimed at correcting for negative consumption externalities. Policy effectiveness depends on whether the measure achieves large reductions in the most socially costly consumption. We exploit a natural experiment to show the policy...