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Market power inside the Belgian coal industry, 1901-45: a new empirical industrial organisation approach

Author

Listed:
  • Gil Montant

    (CREM Université de Caen)

Abstract

"We analyse the impact of economic cycle on firms ability to sustain a collusive behaviour inside the Belgian coal industry during the first half of the twentieth century. In order to define precisely the economic conjuncture, we consider the level of the demand (high/low) as well as its evolutions (downward/upward) so that we define four different states. Econometric results highlight the fact that prices are high during the first part of the economic cycle (i.e. demand is increasing). When demand approaches its peak, collusive firms must reduce their price in order to reduce the incentive to cheat on collusive agreements. In the downward part of the economic cycle, the collusive price must be reduced further in order to preserve collusive agreements."

Suggested Citation

  • Gil Montant, 2011. "Market power inside the Belgian coal industry, 1901-45: a new empirical industrial organisation approach," Working Papers 11030, Economic History Society.
  • Handle: RePEc:ehs:wpaper:11030
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    More about this item

    Keywords

    Industrial relationship; firms’ strategies; applied econometrics; economic history;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • N53 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Europe: Pre-1913
    • N54 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Europe: 1913-

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