Market power and fiscal policy in OECD countries

被引：8

作者：

Afonso, Antonio ^{[1
,2
,3
]}

Costa, Luis F. ^{[1
,2
]}

机构：

[1] Univ Tecn Lisboa, ISEG, Sch Econ & Management, P-1100 Lisbon, Portugal

[2] UECE, Res Unit Complex & Econ, Lisbon, Portugal

[3] European Cent Bank, Directorate Gen Econ, Frankfurt, Germany

来源：

APPLIED ECONOMICS | 2013年 / 45卷 / 32期

关键词：

fiscal policy; markup; VAR; PVAR; D4; E3; E6; H6; MONOPOLISTIC COMPETITION; ENDOGENOUS MARKUPS; MONETARY-POLICY; PRICE; PANEL; MACROECONOMICS; BEHAVIOR; SHOCKS; ENTRY;

D O I：

10.1080/00036846.2013.795275

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We compute average markups 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, show that the markup (i) depicts a pro-cyclical behaviour with productivity shocks and (ii) a counter-cyclical behaviour with fiscal spending shocks. We also use a PVAR, increasing the efficiency in the estimations, which confirms the country-specific results.

引用

页码：4545 / 4555

页数：11

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