We examine the extent to which vertical and horizontal market structure can together explain incomplete retail pass-through. To answer this question, we use scanner data from a large U.S. retailer to estimate product level pass-through for three different vertical structures: national brands,...

This paper investigates the effects of changes in market structure on residential service quality in local U.S. broadband markets. Our analysis focuses on identifying causal effects on quality from entry (or exit) by firms using both legacy and non-legacy broadband network technologies.We...

This paper investigates the asymmetric response of gasoline prices to changes in input costs, otherwise known as the rockets and feathers hypothesis. Using daily data for Western Australia, I estimate a multi-level error correction model (ECM) to investigate the relationship between upstream and...

Turkey's business sector has achieved high growth over the past few years and - on average - has coped well with increased competition. However, some labour-intensive sectors lost competitiveness prior to the currency depreciation in mid-2006 and faced employment losses, raising political...

This paper analyzes the evolution of the Lerner index for Costa Rican banks between 2008 and 2019. We document a significant drop in market power during this period, which we relate to less concentration in loans and deposits. The market became less consolidated as a fringe of 29 small banks...

We investigate the effect of income distribution on R&D in a dynamic framework. Our model captures both the infinite R&D race among heterogeneous innovators and a market where successful innovators generate revenues. The market structure of successful innovations is endogenous – firms produce...

Privately-owned Nigerian banks hold 94% of Nigeria banking assets, the world's second largest share of local ownership. Theoretical explanations for the dominance of local firms related to liabilities of foreignness do not explain this phenomenon, suggesting that foreign banks do not experience...

Using aggregate balance sheet data from banks across the EU-25 over the period from 1997 to 2005 this paper provides empirical evidence that national banking market concentration has a negative impact on European banks' financial soundness as measured by the Z-score technique while controlling...

This paper examines how changes in product market concentration, specifically firm exit, affect prices. I develop a model where firms have variable markups to show that the remaining firms increase their markups and prices after their competitors' exit. The model predictions are tested using...

Using aggregate balance sheet data from banks across the EU-25 over the period from 1997 to 2005 this paper provides empirical evidence that national banking market concentration has a negative impact on European banks’ financial soundness as measured by the Z-score technique while controlling...