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Barriers to Retail Competition and Prices Evidence From Spain

Why do prices in Spain's regions fail to converge? The prime suspects for this puzzling result are differences in regional barriers to entry in retail distribution. This paper develops a Cournot-Nash model of imperfect competition to illustrate the effect of barriers on prices. A unique data se...

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Bibliographic Details
Main Author: Hoffmaister, Willy
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2006
Series:IMF Working Papers
Subjects:
Price Indexes
Inflation
Threshold Analysis
Finance
Econometric Analysis
Deflation
Switching Regression Models
Consumer Price Indexes
Market Structure And Pricing: Oligopoly And Other Forms Of Market Imperfection
Competition
General Financial Markets: General (includes Measurement And Data)
Spatio-temporal Models
Threshold Regression Models
Price Level
Financial Markets
Panel Data Models
Truncated And Censored Models
Prices
Macroeconomics
Econometrics
Econometrics & Economic Statistics
Finance: General
Spain
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:Why do prices in Spain's regions fail to converge? The prime suspects for this puzzling result are differences in regional barriers to entry in retail distribution. This paper develops a Cournot-Nash model of imperfect competition to illustrate the effect of barriers on prices. A unique data set-derived from an extensive analysis of competition policies in Spain- provides evidence that barriers to entry increase regional prices. The evidence also suggests that, consistent with the model's predictions, barriers to entry raise prices up to a point, and thus indicate that barriers have a threshold effect on prices
Physical Description:41 pages
ISBN:9781451864915

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