Econ Papers Daily / 期刊论文
利用传导效应作为经济工具：论地理市场界定、竞争与市场参与者数量及纵向关系
Using Pass-Through as an Economic Tool: On Geographical Market Definition, Competition and Number of Market Players, and Vertical Relations
摘要
I study the cost pass-through on retail prices in two oligopolistic retail markets defined by specific physical boundaries. Using this setup, I find significant evidence that markets ultimately operate as a single one regarding their level of long-run pass-through and speed of price adjustment, possibly indicating substitution effects. Moreover, pass-through in both markets is not a function of the number of market players, which is in contrast with previous theoretical and empirical studies. Finally, I show that although vertical integration has a positive relationship with the speed of price adjustment, it does not affect long-run pass-through.
中文摘要
我研究了两个由特定物理边界界定的寡头零售市场中零售价格的成本传导。利用这一设定，我发现显著证据表明，就长期传导水平和价格调整速度而言，这些市场最终表现为单一市场运作，这可能暗示着替代效应的存在。此外，两个市场的传导并非取决于市场参与者数量，这与先前的理论和实证研究相悖。最后，我表明，尽管纵向一体化与价格调整速度呈正相关，但它并不影响长期传导。