| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16612 |
| DP16612 Revisiting the Anticompetitive Effects of Common Ownership | |
| Xavier Vives; Jose Azar | |
| 发表日期 | 2022-05-31 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | We use data from the U.S. airline industry to test the hypothesis, consistent with the general equilibrium oligopoly model of Azar and Vives (2021), that inter-industry common ownership should be associated with lower prices in product markets. We find that, as the model predicts, increases over time in intra-industry common ownership are associated with higher prices, while increases in interindustry common ownership are associated with lower prices. We also find that common ownership by the “Big Three” (BlackRock, Vanguard and State Street) is associated with lower airline prices, while common ownership by shareholders other than the Big Three is associated with higher prices. The results highlight the limitations of partial equilibrium oligopoly theory in the context of common ownership, and the need to consider a general equilibrium perspective. |
| 主题 | Financial Economics ; Industrial Organization |
| 关键词 | Common ownership Antitrust Competition policy General equilibrium |
| URL | https://cepr.org/publications/dp16612-0 |
| 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/546385 |
| 推荐引用方式 GB/T 7714 | Xavier Vives,Jose Azar. DP16612 Revisiting the Anticompetitive Effects of Common Ownership. 2022. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Xavier Vives]的文章 |
| [Jose Azar]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Xavier Vives]的文章 |
| [Jose Azar]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Xavier Vives]的文章 |
| [Jose Azar]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
