The consequences of the US DOJ's antitrust activities: A macroeconomic perspective

被引：5

作者：

Young, Andrew Thomas ^{[1
]}

Shughart, William F., II ^{[2
]}

机构：

[1] W Virginia Univ, Coll Business & Econ, Morgantown, WV 26506 USA

[2] Univ Mississippi, Dept Econ, University, MS 38677 USA

来源：

PUBLIC CHOICE | 2010年 / 142卷 / 3-4期

关键词：

Antitrust; Real business cycles; Technology shocks; Markup shocks; Aggregate fluctuations; REAL BUSINESS CYCLES; AGGREGATE FLUCTUATIONS; COINTEGRATION VECTORS; POLICY; TECHNOLOGY; HYPOTHESIS; SHOCKS; ENFORCEMENT; EMPLOYMENT; RETURNS;

D O I：

10.1007/s11127-009-9531-y

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Do the antitrust law enforcement activities of the US Department of Justice act as exogenous "technology shocks" or as "markup shocks" limiting market power and promoting economic growth? We analyze annual time series data from 1947 to 2003 on three measures of federal antitrust intervention: the ratio of the Antitrust Division's budgetary expenditures to GDP as well as the numbers of civil and criminal antitrust cases instituted. We find that changes in the levels of these policy variables act like negative technology shocks and that the negative effects are transitory; antitrust policy generates no subsequent offsetting increases in productivity.

引用

页码：409 / 422

页数：14

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