Assessing Time-Varying Oligopoly and Oligopsony Power in the U.S. Paper Industry
No hay miniatura disponible
Fecha
Autores
Título de la revista
ISSN de la revista
Título del volumen
Editor
Resumen
Descripción
The U.S. paper industry has become increasingly concentrated and therefore been suspected
of imperfect competition. In this study, the new empirical industrial organization approach
is employed to measure the degree of oligopoly and oligopsony power in the U.S. paper
industry simultaneously. The model is estimated by iterative three-stage least squares using
annual data from 1955 to 2003. The results reveal that there has been significant oligopoly
and oligopsony power in the U.S. paper industry, and the oligopoly power has been
consistently lower than the oligopsony power.