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Please use this identifier to cite or link to this item: http://hdl.handle.net/10400.5/2319

Title: Market Power and Fiscal Policy in OECD Countries
Authors: Afonso, António
Costa, Luís F.
Keywords: Fiscal Policy
Mark-up
VAR
Panel VAR
Issue Date: 2010
Publisher: ISEG - Departamento de Economia
Citation: Afonso, António e Luís Costa. 2010. "Market Power and Fiscal Policy in OECD Countries". Instituto Superior de Economia e Gestão - DE Working papers nº 11-2010/DE/UECE
Series/Report no.: DE Working papers;nº 11-2010/DE/UECE
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.
URI: http://hdl.handle.net/10400.5/2319
ISSN: 0874-4548
Publisher version: http://aquila2.iseg.utl.pt/aquila/getFile.do?method=getFile&fileId=137861
Appears in Collections:UECE - Documentos de Trabalho / UECE - Working Papers
DE - Documentos de trabalho / Working Papers

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