-through. Differences between independent restaurants and chains is the key explanation for this pattern. While nearly all independent … restaurants effectively ignored the tax reductions and left consumer prices unchanged, a substantial fraction of restaurants … reversion among chain restaurants. The stark difference in price responses does not appear to arise because of different market …

; nearly all independent restaurants left prices unchanged whereas a substantial fraction of restaurants belonging to chains …-segment indicators. Instead, differences appear to arise because independent restaurants aim for (very) crude price ranges rather than …

; nearly all independent restaurants left prices unchanged whereas a substantial fraction of restaurants belonging to chains …-segment indicators. Instead, differences appear to arise because independent restaurants aim for (very) crude price ranges rather than …

-through. Differences between independent restaurants and chains is the key explanation for this pattern. While nearly all independent … restaurants effectively ignored the tax reductions and left consumer prices unchanged, a substantial fraction of restaurants … reversion among chain restaurants. The stark difference in price responses does not appear to arise because of different market …

% to 13% in 2010 in Finland. By comparing with restaurants in neighboring countries and other related sectors in Finland …, the reform offers a natural experimental approach. The results indicate that restaurants reduced their prices on average … restaurants did not reduce their prices at all and a non-trivial fraction of restaurants reduced their prices by exactly the full …