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Market power and fiscal policy in OECD countries
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Autores
Orientador(es)
Resumo(s)
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.
Descrição
Palavras-chave
Fiscal Policy Markup VAR PVAR
Contexto Educativo
Citação
Afonso, António and Luís Costa. (2013)."Market power and fiscal policy in OECD countries". Applied Economics, Vol. 45, No. 32: pp. 4545-4555.
Editora
Taylor & Francis Group