Publicação
Market power and fiscal policy in OECD countries
| dc.contributor.author | Afonso, António | |
| dc.contributor.author | Costa, Luís F. | |
| dc.date.accessioned | 2010-06-23T10:32:14Z | |
| dc.date.available | 2010-06-23T10:32:14Z | |
| dc.date.issued | 2010-04 | |
| dc.description.abstract | 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 country-specific results. | pt |
| dc.identifier.citation | Afonso, António, Luís F. Costa. 2010. "Market power and fiscal policy in OECD countries". European Central Bank working paper series nº 1173-2010 | pt |
| dc.identifier.issn | 1725-2806 | |
| dc.identifier.uri | http://hdl.handle.net/10400.5/2160 | |
| dc.language.iso | eng | pt |
| dc.publisher | European Central Bank | pt |
| dc.relation.ispartofseries | European Central Bank working paper series;nº 1173-2010 | |
| dc.relation.publisherversion | http://www.ecb.int/pub/pdf/scpwps/ecbwp1173.pdf | pt |
| dc.subject | Fiscal Policy | pt |
| dc.subject | Mark-up | pt |
| dc.subject | VAR | pt |
| dc.subject | Panel VAR | pt |
| dc.title | Market power and fiscal policy in OECD countries | pt |
| dc.type | working paper | |
| dspace.entity.type | Publication | |
| rcaap.rights | openAccess | pt |
| rcaap.type | workingPaper | pt |