Universität zu Köln

Germeshausen, Robert, Panke, Timo and Wetzel, Heike (2020). Firm characteristics and the ability to exercise market power: empirical evidence from the iron ore market. Empir. Econ., 58 (5). S. 2223 - 2248. HEIDELBERG: PHYSICA-VERLAG GMBH & CO. ISSN 1435-8921

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Abstract

This paper empirically analyzes the existence of market power in the global iron ore market during the period from 1993 to 2012. Using an innovative stochastic frontier analysis approach, we investigate the relationship between individual firm characteristics, macroeconomic conditions and the individual ability of firms to generate markups in the global iron ore market. Our findings indicate that the markups on average amount to 20%. Moreover, location of the main production site and experience measured in years of production are identified to be the most important determinants of the magnitude of firm-specific markups.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Germeshausen, Robert UNSPECIFIED UNSPECIFIED UNSPECIFIED Panke, Timo UNSPECIFIED UNSPECIFIED UNSPECIFIED Wetzel, Heike UNSPECIFIED UNSPECIFIED UNSPECIFIED
URN:	urn:nbn:de:hbz:38-336057
DOI:	10.1007/s00181-018-1610-9
Journal or Publication Title:	Empir. Econ.
Volume:	58
Number:	5
Page Range:	S. 2223 - 2248
Date:	2020
Publisher:	PHYSICA-VERLAG GMBH & CO
Place of Publication:	HEIDELBERG
ISSN:	1435-8921
Language:	English
Faculty:	Unspecified
Divisions:	Unspecified
Subjects:	no entry
Uncontrolled Keywords:	Keywords Language LABOR PRODUCTIVITY; MONOPOLY POWER; COMPETITION; INDUSTRY; ENDOGENEITY; COST; ECONOMICS; LOSSES; IMPACT; MODEL Multiple languages Economics; Social Sciences, Mathematical Methods Multiple languages
URI:	http://kups.ub.uni-koeln.de/id/eprint/33605