Arbeitspapier
Retail market structure and consumer prices in the euro area
We investigate the empirical relationship between product market competition and prices in the retail grocery sector in the euro area. The study uses micro-data from ACNielsen on chain stores' census characteristics and price levels for a broad variety of products. We construct Herfindahl-Hirschman indices of concentration at different levels of market aggregation (buying group and parent company) to investigate their effects on prices. The analysis confirms the inverse relation between downstream market competition among retailers and price levels for most of the reference products. Though less conclusive in terms of statistical significance, the proposed estimates also point to a welfare enhancing role of buying groups. Our results indicate that buying groups provide a balancing mechanism between retailers' and producers' bargaining power, in support of the countervailing power hypothesis.
- ISBN
-
978-92-899-1152-8
- Language
-
Englisch
- Bibliographic citation
-
Series: ECB Working Paper ; No. 1744
- Classification
-
Wirtschaft
Price Level; Inflation; Deflation
- Subject
-
buying group
market concentration
parent company
price levels
regional Herfindahl-Hirschman indices
- Event
-
Geistige Schöpfung
- (who)
-
Ciapanna, Emanuela
Rondinelli, Concetta
- Event
-
Veröffentlichung
- (who)
-
European Central Bank (ECB)
- (where)
-
Frankfurt a. M.
- (when)
-
2014
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Ciapanna, Emanuela
- Rondinelli, Concetta
- European Central Bank (ECB)
Time of origin
- 2014
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