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Evaluating the state of competition and the welfare losses in the Greek manufacturing sector: an extended Hall–Roeger approach

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  • Anthony N. Rezitis

    (University of Helsinki
    University of Patras)

  • Maria A. Kalantzi

Abstract

This paper extends the Hall–Roeger methodology in order to investigate the market structure and to measure the degree of market power in the Greek manufacturing sector over the period 1984–2007 as a whole and by subsector at the two-digit SIC level. The present paper also estimates the net and the total welfare losses in these market power scenarios. The bootstrap method is applied to assign measures of accuracy to the statistical estimates. The empirical results indicate some degree of market power and thus associated welfare losses for each subsector in the Greek manufacturing sector over the period 1984–2007.

Suggested Citation

  • Anthony N. Rezitis & Maria A. Kalantzi, 2016. "Evaluating the state of competition and the welfare losses in the Greek manufacturing sector: an extended Hall–Roeger approach," Empirical Economics, Springer, vol. 50(4), pages 1275-1302, June.
    • Handle: RePEc:spr:empeco:v:50:y:2016:i:4:d:10.1007_s00181-015-0984-1
    DOI: 10.1007/s00181-015-0984-1
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    Cited by:

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    2. Robert Germeshausen & Timo Panke & Heike Wetzel, 2020. "Firm characteristics and the ability to exercise market power: empirical evidence from the iron ore market," Empirical Economics, Springer, vol. 58(5), pages 2223-2247, May.

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    More about this item

    Keywords

    Market power; Markup ratio; Welfare losses; Manufacturing sector; Bootstrap;
    All these keywords.

    JEL classification:

    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • L00 - Industrial Organization - - General - - - General
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • D60 - Microeconomics - - Welfare Economics - - - General

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