Bias in reduced-form estimates of pass-through

被引：10

作者：

MacKay, Alexander ^{[1
]}

Miller, Nathan H. ^{[2
]}

Remer, Marc ^{[3
]}

Sheu, Gloria ^{[3
]}

机构：

[1] Univ Chicago, Dept Econ, Chicago, IL 60637 USA

[2] Georgetown Univ, McDonough Sch Business, Washington, DC 20057 USA

[3] US Dept Justice, Antitrust Div, Econ Anal Grp, Washington, DC 20530 USA

来源：

ECONOMICS LETTERS | 2014年 / 123卷 / 02期

关键词：

Pass-through; Reduced-form regression; Bias; PRICES;

D O I：

10.1016/j.econlet.2014.02.017

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We show that, in general, consistent estimates of cost pass-through are not obtained from reduced-form regressions of price on cost. We derive a formal approximation for the bias that arises even under standard orthogonality conditions. We provide guidance on the conditions under which bias may frustrate inference. (C) 2014 Elsevier B.V. All rights reserved.

引用

页码：200 / 202

页数：3

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