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Competition Law, Antitrust Immunity and Profits: A Dynamic Panel Analysis

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Author Info

  • Brouwer, E.
  • Ozbugday, F.C.

    (Tilburg University, Center for Economic Research)

Abstract

This paper tests whether the transition from the old Economic Competition Act, which was based on the so-called “abuse system”, to the new Competition Act, which was based on “prohibition system”, in the Netherlands had an impact on the price-cost margins in manufacturing industries during the period 1993-2007. The paper further investigates if the price-cost margins were higher in industries where temporary antitrust immunity was granted for subset of firms that engaged in concerted practices. The results indicate that the change in the competition law in the Netherlands had a very small and negative, yet statistically insignificant deterrent effect on the price-cost margins. Elsewhere, markups were higher in industries in which temporary antitrust immunity was granted for some class of coordinated actions.

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Bibliographic Info

Paper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2011-038.

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Date of creation: 2011
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Handle: RePEc:dgr:kubcen:2011038

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Web page: http://center.uvt.nl

Related research

Keywords: Price-cost margins; Competition law; Antitrust immunity; Antitrust enforcement; Dynamic panel data model; the Netherlands;

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  1. M Arellano & O Bover, 1990. "Another Look at the Instrumental Variable Estimation of Error-Components Models," CEP Discussion Papers dp0007, Centre for Economic Performance, LSE.
  2. Bilotkach, Volodymyr & Hüschelrath, Kai, 2010. "Antitrust immunity for airline alliances," ZEW Discussion Papers 10-080, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  3. Blundell, R. & Bond, S., 1995. "Initial Conditions and Moment Restrictions in Dynamic Panel Data Models," Economics Papers 104, Economics Group, Nuffield College, University of Oxford.
  4. Jozef Konings & Patrick Van Cayseele & Frederic Warzynski, 1999. "The Dynamics of Industrial Markups in Two Small Open Economies: Does National Competition Policy Matter ?," Center for Economic Studies - Discussion papers ces9914, Katholieke Universiteit Leuven, Centrum voor Economische Studiën.
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