Arbeitspapier
Market power and fiscal policy in OECD countries
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.
- Language
-
Englisch
- Bibliographic citation
-
Series: ECB Working Paper ; No. 1173
- Classification
-
Wirtschaft
- Subject
-
Fiscal Policy
Mark-up
Panel VAR
VAR
Finanzpolitik
Mark-up Pricing
VAR-Modell
Panel
OECD-Staaten
- Event
-
Geistige Schöpfung
- (who)
-
Afonso, António
Costa, Luís F.
- Event
-
Veröffentlichung
- (who)
-
European Central Bank (ECB)
- (where)
-
Frankfurt a. M.
- (when)
-
2010
- Handle
- Last update
-
10.03.2025, 11:41 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the 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
- Afonso, António
- Costa, Luís F.
- European Central Bank (ECB)
Time of origin
- 2010
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