| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4380 |
| DP4380 Asset Prices and International Spillovers: An Empirical Investigation | |
| LUCIO SARNO; Giorgio Valente | |
| 发表日期 | 2004-05-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | We describe a pair of subadditivity tests that can be used to evaluate the technological feasibility of separating a vertically integrated network monopoly into a common infrastructure component and competing operating components. We implement the tests with a Generalized McFadden cost function that is globally concave in input prices and permits the assignment of zero output values without losing its flexibility properties. The tests shed light on the respective roles of regulation and competition policy. We illustrate them with an analysis of US freight railroads for the period 1978-2001 and find both vertical and horizontal economies of scope. |
| 主题 | Industrial Organization |
| 关键词 | Vertical integration Subadditivity Regulation Networks Railroads |
| URL | https://cepr.org/publications/dp4380 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533334 |
| 推荐引用方式 GB/T 7714 | LUCIO SARNO,Giorgio Valente. DP4380 Asset Prices and International Spillovers: An Empirical Investigation. 2004. |
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