Market power and fiscal policy in OECD countries

Detalhes bibliográficos
Autor(a) principal: Afonso, António
Data de Publicação: 2010
Outros Autores: Costa, Luís F.
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/2160
Resumo: 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.
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spelling Market power and fiscal policy in OECD countriesFiscal PolicyMark-upVARPanel VARWe 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.European Central BankRepositório da Universidade de LisboaAfonso, AntónioCosta, Luís F.2010-06-23T10:32:14Z2010-042010-04-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/2160engAfonso, António, Luís F. Costa. 2010. "Market power and fiscal policy in OECD countries". European Central Bank working paper series nº 1173-20101725-2806info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:33:24Zoai:www.repository.utl.pt:10400.5/2160Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T16:50:13.699926Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Market power and fiscal policy in OECD countries
title Market power and fiscal policy in OECD countries
spellingShingle Market power and fiscal policy in OECD countries
Afonso, António
Fiscal Policy
Mark-up
VAR
Panel VAR
title_short Market power and fiscal policy in OECD countries
title_full Market power and fiscal policy in OECD countries
title_fullStr Market power and fiscal policy in OECD countries
title_full_unstemmed Market power and fiscal policy in OECD countries
title_sort Market power and fiscal policy in OECD countries
author Afonso, António
author_facet Afonso, António
Costa, Luís F.
author_role author
author2 Costa, Luís F.
author2_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Afonso, António
Costa, Luís F.
dc.subject.por.fl_str_mv Fiscal Policy
Mark-up
VAR
Panel VAR
topic Fiscal Policy
Mark-up
VAR
Panel VAR
description 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.
publishDate 2010
dc.date.none.fl_str_mv 2010-06-23T10:32:14Z
2010-04
2010-04-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/2160
url http://hdl.handle.net/10400.5/2160
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Afonso, António, Luís F. Costa. 2010. "Market power and fiscal policy in OECD countries". European Central Bank working paper series nº 1173-2010
1725-2806
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv European Central Bank
publisher.none.fl_str_mv European Central Bank
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
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