Modelling price competition across many markets : an application to the Spanish loans market

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dc.contributor.author Jaumandreu, Jordi
dc.contributor.author Lorences, J.
dc.date.accessioned 2014-05-27T15:59:51Z
dc.date.available 2014-05-27T15:59:51Z
dc.date.issued 2002-01
dc.identifier.bibliographicCitation European Economic Review (2002), 46(1), 93-115
dc.identifier.issn 0014-2921
dc.identifier.uri http://hdl.handle.net/10016/5189
dc.description.abstract The purpose of this work is the structural modelling of price competition in a product-differentiated industry in which many firms of varying size compete across many independent small markets, with the target of identifying price behaviour. We apply it to model competition among the more than 79 banks that were active in the Spanish loans market during the period 1983–1991, using micropanel data. A model in which national banks (as opposed to regional and local banks) fully internalize their cross-rate effects in pricing is selected as the model that best fits the data. Our framework allows us to estimate the dead-weight loss due to market power, and to decompose it assessing the part attributable to price coordination.
dc.format.extent 23
dc.format.mimetype text/html
dc.language.iso eng
dc.publisher Elsevier
dc.rights © 2002 Elsevier Science B.V.
dc.subject.other Price behaviour
dc.subject.other Independent markets
dc.subject.other Market power
dc.subject.other Price coalitions
dc.title Modelling price competition across many markets : an application to the Spanish loans market
dc.type article
dc.type.review PeerReviewed
dc.description.status Publicado
dc.relation.publisherversion http://dx.doi.org/10.1016/S0014-2921(01)00085-X
dc.subject.jel L13
dc.subject.jel G21
dc.subject.eciencia Economía
dc.identifier.doi 10.1016/S0014-2921(01)00085-X
dc.rights.accessRights openAccess
dc.type.version acceptedVersion
dc.identifier.publicationfirstpage 93
dc.identifier.publicationissue 1
dc.identifier.publicationlastpage 115
dc.identifier.publicationtitle European Economic Review
dc.identifier.publicationvolume 46
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