Tag: Bureau of Economics

Displaying 181 - 200 of 456 results.

We provide the first analysis of potential competition in the generic drug industry. Our identification strategy exploits a provision of the Hatch-Waxman Act that rewards 180 days of marketing exclusivity to the first generic drug applicant against the holder of a branded drug patent...
This paper presents new evidence of asymmetric pass-through, the notion that upward cost shocks are passed through faster than downward cost shocks, in U.S. gasoline prices. Much of the extant literature comes to seemingly contradictory conclusions about the existence of an asymmetry...
Studies of gasoline prices in multiple countries have found a repeated sequence of asymmetric cycles where a sharp price increase is followed by gradual decreases. This price pattern is linked to Maskin & Tirole’s (1988) theoretical duopoly pricing game that produces a similar...
Sunoco’s 2004 acquisition of El Paso’s, New Jersey refinery and Valero’s 2005 acquisition of Premcor’s Delaware refinery significantly consolidated refinery control in the U.S. Northeast. The Federal Trade Commission investigated both transactions but challenged neither. We examine...
A use-or-lose provision requires firms to employ a certain minimum fraction of their productive capacity. Variants have been used by regulators in the airline, natural gas transmission, and electric power industries, among others.  The primary objective of these provisions is to...
Our paper contributes to the literature on the relationship between innovation and market power by considering how changes in the intensity of product market competition affect innovation when managerial compensation is a linear function of firm profits. Changes in the intensity of...
Economists at the Federal Trade Commission (FTC) support the agency’'s competition and consumer protection missions. In this year'’s essay we discuss efforts at the FTC and elsewhere to examine empirically the competitive effects of mergers. This work has ranged from subjective...
Despite being a widely used tool in merger enforcement, there have been few studies of whether antitrust divestitures are successful.  We help fill this void by conducting a study of the divestitures relating to Johnson & Johnson’s $16.6 billion acquisition of Pfizer’s consumer...
Eight years have elapsed since the Federal Trade Commission (FTC) prevented the merger of the formerly number two and number three baby food manufacturers in the U.S. Since the abandoned merger, the landscape of the baby food industry has significantly evolved. All of the major...
We provide an in-depth analysis of the price effects of two hospital mergers that occurred in the north shore suburbs of Chicago in early 2000: Evanston Northwestern Healthcare’s (ENH) purchase of Highland Park Hospital (HPH) and the merger of St. Therese Medical Center (STMC) and...
The Federal Trade Commission initiated a Hospital Merger Retrospective Project in 2002 to analyze the effects of consummated mergers.  One of the mergers studied was the 1998 acquisition by New Hanover Regional Medical Center (“New Hanover”) of Columbia Cape Fear Memorial Hospital (“...
This study examines accuracy in consumer credit reports using a nationally representative sample of consumers with credit histories. Participants in the study examined their credit reports from the three national credit reporting agencies and identified potentially material errors....
We conduct a retrospective study of the Sutter-Summit hospital merger to assess whether antitrust enforcement in this matter was appropriate.  This consummated merger combined two hospitals located close together in the Oakland-Berkeley region of the San Francisco Bay Area.  The...
Economics at the Federal Trade Commission (FTC) supports both the competition and consumer protection missions of the agency. In this year’s essay we discuss competition activity with a summary of our work on the Google-DoubleClick merger and recent activity on resale price...
We estimate the effect of education and student status on the propensity to smoke. Our estimation strategy accounts for the endogeneity of education by “differencing out” the impact of unobserved characteristics correlated with educational attainment. This is accomplished by...
This study reports the results of the Federal Trade Commission’s second statistical survey of fraud in the United States. The survey found that 30.2 million adults – 13.5 percent of the adult population – were victims of one or more of the frauds included in the survey during the...
In a paper in the March 2004 AER, Justine Hastings concludes that the acquisition of an independent gasoline retailer, Thrifty, by a vertically integrated firm, ARCO, is associated with sizable price increases at competing stations. To better understand the novel mechanism to which...
Economics at the Federal Trade Commission (FTC) supports both the competition and consumer protection missions of the agency. In this year’'s essay we discuss two issues, one from each of the agency’'s missions. First, we focus on intellectual property issues in pharmaceuticals....
Market factors explain increases in the national average retail price for gasoline during the spring and summer of 2006, according to a report sent to the President today by the Federal Trade Commission and the U.S. Department of Justice’s Antitrust Division.

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