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Cyclical fluctuations and coordination in the US steel industry

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  • Craig Gallet

Abstract

The model developed uses a measure of the discrepancy between price and marginal cost to estimate the effects of domestic demand fluctuations on the degree of oligopoly coordination in the US steel industry. Due to the importance of imports, however, domestic demand fluctuations occur whenever market demand and/or import supply shift. Consistent with several recent game-theoretic models, our results show that coordination among US steel producers tends to be weakest when market demand is high and import supply is low.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/000368497327056
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Bibliographic Info

Article provided by Taylor and Francis Journals in its journal Applied Economics.

Volume (Year): 29 (1997)
Issue (Month): 3 ()
Pages: 279-285

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Handle: RePEc:taf:applec:v:29:y:1997:i:3:p:279-285

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Cited by:
  1. Bruce Blonigen & Benjamin H. Liebman & Justin R. Pierce & Wesley W. Wilson, 2010. "Are All Trade Protection Policies Created Equal? Empirical Evidence for Nonequivalent Market Power Effects of Tariffs and Quotas," NBER Working Papers 16391, National Bureau of Economic Research, Inc.
  2. Andrea Vaona, 2010. "A nonparametric panel data approach to the cyclical dynamics of price-cost margins," Kiel Working Papers 1580, Kiel Institute for the World Economy.
  3. Craig Gallet, 2001. "The Gradual Response of Market Power to Mergers in the U.S. Steel Industry," Review of Industrial Organization, Springer, vol. 18(3), pages 327-336, May.
  4. Bruce A. Blonigen & Benjamin H. Liebman & Wesley W. Wilson, 2007. "Trade Policy and Market Power: The Case of the US Steel Industry," NBER Working Papers 13671, National Bureau of Economic Research, Inc.
  5. Margaret C. Levenstein & Valerie Y. Suslow, 2002. "What Determines Cartel Success?," UMASS Amherst Economics Working Papers 2002-01, University of Massachusetts Amherst, Department of Economics.
  6. Berends, P.A.J. & Romme, A.G.L., 2001. "Cyclicality of capital-intensive industries: a system dynamics simulation study of the paper industry," Open Access publications from Maastricht University urn:nbn:nl:ui:27-19247, Maastricht University.

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