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  •   RALF
  • Pravni fakultet / Faculty of Law University of Belgrade
  • Anali Pravnog fakulteta u Beogradu / The Annals of the Faculty of Law in Belgrade
  • Преглед записа
  •   RALF
  • Pravni fakultet / Faculty of Law University of Belgrade
  • Anali Pravnog fakulteta u Beogradu / The Annals of the Faculty of Law in Belgrade
  • Преглед записа
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Exploring the long-term impact of maximum markup deregulation

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2020
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1773.pdf (618.6Kb)
Аутори
Dimas, Athanasios
Genakos, Christos
Чланак у часопису (Објављена верзија)
CC BY
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Апстракт
Do product market reforms have a lasting impact on the market? How does the adjustment path to the new equilibrium look once these reforms are implemented? Does it matter whether reforms are conducted under weak macroeconomic conditions? We examine pricing equilibrium, three and five years after the repeal of the maximum wholesale and retail markup regulation, in an oligopolistic and vertically nonintegrated market in Greece, at the beginning of its economic crisis. Using a difference-in-difference framework, we show that market liberalization led to a significant decrease in both retail and wholesale prices and a shift to the left of the whole price distribution five years after the change, corresponding to approximately €212 million of added consumer welfare per year, or €1.06 billion in total over five years.
Кључне речи:
markup regulation / long-term impact / focal point / ex-post policy evaluation / collusion
Извор:
Anali Pravnog fakulteta u Beogradu, 2020, 68, 4, 5-29

DOI: 10.51204/Anali_PFUB_20401A

ISSN: 0003-2565

[ Google Scholar ]
URI
https://ralf.ius.bg.ac.rs/handle/123456789/1780
Колекције
  • Anali Pravnog fakulteta u Beogradu / The Annals of the Faculty of Law in Belgrade
Институција/група
Pravni fakultet / Faculty of Law University of Belgrade
TY  - JOUR
AU  - Dimas, Athanasios
AU  - Genakos, Christos
PY  - 2020
UR  - https://ralf.ius.bg.ac.rs/handle/123456789/1780
AB  - Do product market reforms have a lasting impact on the market? How does the adjustment path to the new equilibrium look once these reforms are implemented? Does it matter whether reforms are conducted under weak macroeconomic conditions? We examine pricing equilibrium, three and five years after the repeal of the maximum wholesale and retail markup regulation, in an oligopolistic and vertically nonintegrated market in Greece, at the beginning of its economic crisis. Using a difference-in-difference framework, we show that market liberalization led to a significant decrease in both retail and wholesale prices and a shift to the left of the whole price distribution five years after the change, corresponding to approximately €212 million of added consumer welfare per year, or €1.06 billion in total over five years.
T2  - Anali Pravnog fakulteta u Beogradu
T1  - Exploring the long-term impact of maximum markup deregulation
EP  - 29
IS  - 4
SP  - 5
VL  - 68
DO  - 10.51204/Anali_PFUB_20401A
UR  - conv_3381_6
ER  - 
@article{
author = "Dimas, Athanasios and Genakos, Christos",
year = "2020",
abstract = "Do product market reforms have a lasting impact on the market? How does the adjustment path to the new equilibrium look once these reforms are implemented? Does it matter whether reforms are conducted under weak macroeconomic conditions? We examine pricing equilibrium, three and five years after the repeal of the maximum wholesale and retail markup regulation, in an oligopolistic and vertically nonintegrated market in Greece, at the beginning of its economic crisis. Using a difference-in-difference framework, we show that market liberalization led to a significant decrease in both retail and wholesale prices and a shift to the left of the whole price distribution five years after the change, corresponding to approximately €212 million of added consumer welfare per year, or €1.06 billion in total over five years.",
journal = "Anali Pravnog fakulteta u Beogradu",
title = "Exploring the long-term impact of maximum markup deregulation",
pages = "29-5",
number = "4",
volume = "68",
doi = "10.51204/Anali_PFUB_20401A",
url = "conv_3381_6"
}
Dimas, A.,& Genakos, C.. (2020). Exploring the long-term impact of maximum markup deregulation. in Anali Pravnog fakulteta u Beogradu, 68(4), 5-29.
https://doi.org/10.51204/Anali_PFUB_20401A
conv_3381_6
Dimas A, Genakos C. Exploring the long-term impact of maximum markup deregulation. in Anali Pravnog fakulteta u Beogradu. 2020;68(4):5-29.
doi:10.51204/Anali_PFUB_20401A
conv_3381_6 .
Dimas, Athanasios, Genakos, Christos, "Exploring the long-term impact of maximum markup deregulation" in Anali Pravnog fakulteta u Beogradu, 68, no. 4 (2020):5-29,
https://doi.org/10.51204/Anali_PFUB_20401A .,
conv_3381_6 .

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