Econ Papers Daily / 期刊论文
非对称传导与竞争
Asymmetric Pass‐Through and Competition
摘要
We study the retail price pass‐through of four major tax changes in petroleum products using daily pricing data from gas stations on small Greek islands. We find that (i) the pass‐through of the tax hikes is five times higher than for the tax decrease, (ii) the pass‐through of the tax hikes increases with competition, while that of the tax decrease does not, (iii) there is significant asymmetry in the speed of price adjustments, and (iv) the asymmetric price adjustment can be rationalized by either tacit collusion or consumer search behavior, as the most plausible explanations.
中文摘要
我们利用希腊小岛上加油站的每日定价数据，研究了石油产品四次重大税收变动的零售价格传导效应。研究发现：（i）税收上调的传导效应是税收下调的五倍；（ii）税收上调的传导效应随竞争程度增强而提高，而税收下调的传导效应则不受竞争影响；（iii）价格调整速度存在显著的不对称性；（iv）这种不对称价格调整最合理的解释是默契合谋或消费者搜寻行为。