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El coste en bienestar de los márgenes en mercados de productos en España: un análisis con empresas heterogéneas

Author

Listed:
  • Alfonso Camba

    (Comisión Nacional de los Mercados y la Competencia)

  • Matías Covarrubias

    (Banco de España)

  • José Luis Rodríguez

    (Comisión Nacional de los Mercados y la Competencia)

  • Raquel Tárrega

    (Comisión Nacional de los Mercados y la Competencia)

Abstract

El presente trabajo cuantifica los costes de bienestar asociados al poder de mercado en España. A tal fin, examina los márgenes en el mercado de productos utilizando un modelo dinámico con empresas heterogéneas, márgenes variables y entrada endógena de empresas. Adaptando la metodología de Edmond, Midrigan y Xu (2023) al contexto español mediante datos de la Central de Balances del Banco de España, identificamos tres canales de distorsión: el margen agregado como impuesto uniforme, la dispersión de márgenes (que genera asignación ineficiente de recursos) y la entrada ineficiente de empresas. Nuestros resultados indican que, para un margen promedio del 20 % sobre el coste marginal, el coste de bienestar equivale al 16,94 % del consumo anual del consumidor representativo, porcentaje que aumenta no linealmente hasta el 30,83 % cuando el margen promedio es del 25 %. La principal fuente de pérdida de bienestar proviene del margen agregado, seguida de la mala asignación de recursos, que reduce la productividad total de los factores entre un 1,3 % y un 2,9 %. Las distorsiones en la entrada de empresas tienen efectos comparativamente menores. Estas estimaciones son conservadoras debido a la limitada captura de heterogeneidad en los márgenes y la utilización de parámetros moderados para la participación de materiales en la producción. Los resultados reafirman la importancia de promover la competencia en España e indican que incluso reducciones moderadas del margen pueden tener un impacto notable, en particular si los márgenes de partida son elevados.

Suggested Citation

  • Alfonso Camba & Matías Covarrubias & José Luis Rodríguez & Raquel Tárrega, 2026. "El coste en bienestar de los márgenes en mercados de productos en España: un análisis con empresas heterogéneas," Occasional Papers 2611, Banco de España.
    • Handle: RePEc:bde:opaper:2611
    DOI: https://doi.org/10.53479/43125
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    References listed on IDEAS

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    Keywords

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    JEL classification:

    • D42 - Microeconomics - - Market Structure, Pricing, and Design - - - Monopoly
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms

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