Loading...
Please wait, while we are loading the content...
Similar Documents
Market power and fiscal policy in OECD countries
| Content Provider | EconStor |
|---|---|
| Author | Afonso, António Costa, Luís F. |
| Abstract | We compute average mark-ups as a measure of market power throughout time and study their interaction with fiscal policy and macroeconomic variables in a VAR framework. From impulse-response functions the results, with annual data for a set of 14 OECD countries covering the period 1970-2007, show that the mark-up (i) depicts a pro-cyclical behaviour with productivity shocks and (ii) a mildly counter-cyclical behaviour with fiscal spending shocks. We also use a Panel Vector Auto-Regression analysis, increasing the efficiency in the estimations, which confirms the countryspecific results. |
| File Format | |
| Language | English |
| Publisher | European Central Bank (ECB) |
| Publisher Date | 2010-01-01 |
| Publisher Place | Frankfurt a. M. |
| Access Restriction | Open |
| Rights Holder | http://www.econstor.eu/dspace/Nutzungsbedingungen |
| Subject Keyword | Fiscal Policy Mark-up Panel VAR VAR Finanzpolitik Mark-up Pricing VAR-Modell Panel OECD-Staaten Market Structure, Pricing, and Design Prices, Business Fluctuations, and Cycles National Budget, Deficit, and Debt |
| Content Type | Text |
| Resource Type | Article |
