CEIS-Tor Vergata is pleased to inform you that, on Friday April 4th, 2014 at 12.00 pm, Christos Genakos (Athens University of Economics) will present a paper on “The impact of markup ceiling regulation on prices †ABSTRACT We test the impact of markup ceiling regulation in an oligopolistic market, using data from the retail market of fruits and vegetables in Greece. In 2010 the Greek government as part of a larger package of market reforms aiming at liberalizing the economy hastily cancelled a law imposing maximum wholesale and retail margins for all fruits and vegetables, except for five products. To identify the impact of deregulation on prices, we compare prices of products affected by regulation before and after the policy change and use the unregulated products as a control group. We find that abolishing markup regulation led to a significant decrease in both retail and wholesale prices. However, we also find that, after accounting for wholesale prices, retail prices were not significantly affected by regulation. This suggests that regulation affected wholesalers and only indirectly retailers, who adjusted their price level but not their markups. We provide additional evidence consistent with markup ceilings providing a focal point for collusion among wholesalers.​ The Seminar will be held at the Faculty of Economics, University of Rome "Tor Vergata", B-building, 1° floor, room B Please, go to www.ceistorvergata.it for the complete list of seminars and events at CEIS. How to reach us: http://web.uniroma2.it/mobilita/index.html http://www.economia.uniroma2.it/area.asp?a=867 Barbara Piazzi __________ Informazioni da ESET NOD32 Antivirus, versione del database delle firme digitali 9617 (20140331) __________ Il messaggio è stato controllato da ESET NOD32 Antivirus. www.nod32.it |
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