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Vertical Price Control and Parallel Imports: Theory and Evidence

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Author Info
Keith E. Maskus
Yongmin Chen

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Abstract

The paper analyzes parallel imports, or goods traded without the authorization of a trademark owner. Parallel imports have multiple causes, including vertical price control, which the authors model. A manufacturer selling its product through an independent agent sets the wholesale price sufficiently low to induce a desired retail price abroad. This permits the agent to sell the product profitably in the originating market. Combined social surplus decreases and then increases in the cost of parallel trade. Restricting parallel imports benefits the manufacturer, but could raise or reduce global surplus. The econometric analysis indicates that the vertical-control explanation of parallel imports is important. Copyright Blackwell Publishing Ltd 2004.

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File URL: http://www.blackwell-synergy.com/links/doi/10.1111/j.1467-9396.2004.00467.x/enhancedabs
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Publisher Info
Article provided by Blackwell Publishing in its journal Review of International Economics.

Volume (Year): 12 (2004)
Issue (Month): 4 (09)
Pages: 551-570
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Handle: RePEc:bla:reviec:v:12:y:2004:i:4:p:551-570

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. James A. Brander & Paul Krugman, 1983. "A 'Reciprocal Dumping' Model of International Trade," NBER Working Papers 1194, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  2. Kasa, Kenneth, 1992. "Adjustment costs and pricing-to-market theory and evidence," Journal of International Economics, Elsevier, vol. 32(1-2), pages 1-30, February. [Downloadable!] (restricted)
  3. Katz, Michael L., 1989. "Vertical contractual relations," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 1, chapter 11, pages 655-721 Elsevier. [Downloadable!] (restricted)
  4. Yongmin Chen, 1999. "Oligopoly Price Discrimination and Resale Price Maintenance," RAND Journal of Economics, The RAND Corporation, vol. 30(3), pages 441-455, Autumn. [Downloadable!] (restricted)
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  1. Tommaso Valletti & Stefan Szymanski, 2006. "Parallel Trade, International Exhaustion and Intellectual Property Rights: A Welfare Analysis," CEIS Research Paper 75, Tor Vergata University, CEIS. [Downloadable!]
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  2. Phillip McCalman, 2006. "Parallel imports and the lot of a starving artist," Journal of International Trade & Economic Development, Taylor and Francis Journals, vol. 15(1), pages 49-62, March. [Downloadable!] (restricted)
  3. Carsten Fink & Beata Smarzynska & Mariana Spatareanu, 2003. "Income-related biases in international trade : what do trademark registration data tell us?," Policy Research Working Paper Series 3150, The World Bank. [Downloadable!]
    Other versions:
  4. Alfons Palangkaraya & Jongsay Yong, 2006. "Parallel Imports, Market Size and Investment Incentive," Melbourne Institute Working Paper Series wp2006n25, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne. [Downloadable!]
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