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Did US Safeguards Affect Mark-ups of EU Steel Producers?

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Author Info
Vandenbussche, Hylke
Zarnic, Ziga

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Abstract

This paper empirically investigates the effects of the US safeguard protection on steel imports in 2002 on the mark-ups of EU steel producers. We identify a large panel of EU steel producers between 1995 and 2005 affected by the safeguards. Using the Roeger methodology, our results show that the protection signifcantly reduced the EU firms' mark-ups. Single-product firms suffered relatively more from the safeguards than multi-product firms. Our evidence further suggests that the US protection resulted in some diverting of the EU steel especially towards China, aggravating the situation on the Chinese steel market and ultimately resulting in the Chinese trade protection of steel imports.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 6486.

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Date of creation: Sep 2007
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Handle: RePEc:cpr:ceprdp:6486

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Related research
Keywords: firm data; price-cost margins; safeguard measures; steel industry; trade diversion;

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Find related papers by JEL classification:
F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
L61 - Industrial Organization - - Industry Studies: Manufacturing - - - Metals and Metal Products; Cement; Glass; Ceramics

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    Other versions:
  4. Benjamin H. Liebman, 2006. "Safeguards, China, and the Price of Steel," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 142(2), pages 354-373, July. [Downloadable!] (restricted)
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  7. Roeger, Werner & Warzynski, Frédéric, 2004. "A Joint Estimation of Price-Cost Margins and Sunk Capital - Theory and Evidence from the European Electricity Industry," Working Papers 04-17, University of Aarhus, Aarhus School of Business, Department of Economics. [Downloadable!]
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  17. Olley, G Steven & Pakes, Ariel, 1996. "The Dynamics of Productivity in the Telecommunications Equipment Industry," Econometrica, Econometric Society, vol. 64(6), pages 1263-97, November. [Downloadable!] (restricted)
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  19. Joshua D. Angrist, 1998. "Estimating the Labor Market Impact of Voluntary Military Service Using Social Security Data on Military Applicants," Econometrica, Econometric Society, vol. 66(2), pages 249-288, March.
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