Πλοήγηση ανά Συγγραφέα "Kampouris, Themistoklis"
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Τεκμήριο Pass-through and market definition: evidence from a highly competitive market(2020-02-21) Kampouris, Themistoklis; Καμπούρης, Θεμιστοκλής; Athens University of Economics and Business, Department of Economics; Louri-Dendrinou, Eleni; Vettas, Nikolaos; Genakos, ChristosWhat is the “right” geographic definition of relevant markets? We study how unexpected and exogenous increases in excise duties in petroleum products were passed-through to retail prices in the Athens region and examine how the degree of the pass-through varies across different geographic relevant markets. Our core outcomes are twofold. Firstly, the overall estimated pass-through is complete and its implementation is swift after the excise changes. Secondly, using various definitions of the relevant geographic market, we find that the most appropriate model that fits the Athens region, is one of perfect competition. Hence, contrary to expectations and previous arbitrary geographic market definitions, we deduct that gas stations in Athens compete fiercely and that the role for geographic differentiation is minimal. Finally, we discuss the wider implications of our findings.