| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP2090
|
| DP2090 Equal Opportunities in Education: Market Equilibrium and Public Policy |
| Gianni De Fraja
|
| 发表日期 | 1999-02-28
|
| 出版年 | 1999
|
| 语种 | 英语
|
| 摘要 | Car prices in Europe are characterized by large and persistent differences across countries. The purpose of this paper is to document and explain this price dispersion. Using a panel data set extending from 1980 to 1993, two main facts concerning car prices in Europe are demonstrated: (1) the existence of significant differences in quality adjusted prices across countries, with Italy and the United Kingdom systematically representing the most expensive markets; (2) substantial year-to-year volatility that is, to a large extent, accounted for by exchange rate fluctuations and the incomplete response of local currency prices to these fluctuations. These facts are analysed within the framework of a multi-product oligopoly model with product differentiation. The model identifies three potential sources for the international price differences: price elasticities generating differences in mark-ups; costs; and import quota constraints. Based on the results we conjecture that EMU will substantially reduce the year-to-year volatility observed in the car price data, but without further measures to increase European integration, it will not completely eliminate existing cross-country price differences. |
| 主题 | Industrial Organization
|
| 关键词 | European car market
Incomplete rate pass-through
Oligopoly
Price dispersion
|
| URL | https://cepr.org/publications/dp2090
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531207
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推荐引用方式
GB/T 7714 |
Gianni De Fraja. DP2090 Equal Opportunities in Education: Market Equilibrium and Public Policy. 1999.
|
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