This paper evaluates the effect of the Russian invasion of Ukraine in February 2022 on refinery margins, i.e. the difference between wholesale prices for road fuels (gasoline and diesel) and oil prices in Europe and Germany in particular. Following the Russian invasion of Ukraine, wholesale road...

This paper evaluates the effect of the Russian invasion of Ukraine in February 2022 on refinery margins, i.e. the difference between wholesale prices for road fuels (gasoline and diesel) and oil prices in Europe and Germany in particular. Following the Russian invasion of Ukraine, wholesale road...

Wholesale markets for electricity need to determine: i) the selection of producers allowed to actually supply energy to the grid; ii) the price of energy paid; iii) how revenues are distributed among producers. The design of markets for electricity entails several empirical and theoretical...

This paper evaluates the temporary reduction in energy taxes implemented by the German government between June and September 2022. We use pricing and quantity data from the wholesale market for crude oil, gasoline, and diesel and find an average pass through of 80% to 85% of the tax cut, which...

This paper develops a simple nonparametric test for perfect competition in markets for homogenous goods. The method only requires data on prices and some aggregate of output. We then generalize the method to account for variable capacity and intertemporal production decisions. We apply the...

How does electricity market integration affect cross-border electricity flows, wholesale prices and renewable electricity generation? We employ a synthetic control method to contribute to literature on electricity market integration using the 2018 integration of Ireland's Single Electricity...

This paper evaluates the temporary reduction in energy taxes implemented by the German government between June and September 2022. We use pricing and quantity data from the wholesale market for crude oil, gasoline, and diesel and find an average pass through of 80% to 85% of the tax cut, which...

This study examined the vertical transmission of wheat price among the main value chain, looking at the pricing behaviour of certain role players in the wheat production/supply and the distribution of bread, which is a major staple food consumed in South Africa. A nonlinear autoregressive...

This study employs synthetic control methods to estimate the effect of the Iberian exception mechanism on wholesale electricity prices and consumer inflation, for both Spain and Portugal. We find that the intervention led to an average reduction of approximately 40% in the spot price of...

Research on the subject of marketing ethics has already been a neglected area. There is a lack of research in the field, especially from the developing world. Thus, this study explored the marketing ethics practice and perceptions of marketing practitioners in the wholesale and retail sector in...

A few recent publications on interrupted time series analysis only conduct preintervention modelling and use it to illustrate postintervention deviation without quantifying the amount lost during the intervention period. Thus, this study aims to illustrate how to estimate and quantify the actual...

Background Based on the legal framework laid down in section 130b (9) of Book V of the German Social Code, various criteria are relevant for the negotiated price for new patented drugs in Germany. European reference prices (ERPs) are one criterion. The ERP is based on the ex-factory prices...

The report starts with a brief overview of the evolution of competitive power markets and the current global landscape of electricity markets. It further reviews the arguments for markets, including existing evidence as well as basic preconditions for market reform. The main body of the report...

Being the main food commodity, the dynamics of rice prices is one of the most important issues for Indonesian economy. The prices at the retail level and at the farm level are influenced not only by the demand and supply in each of these markets but also by price behavior at the wholesale...

Using newly released public data on beer prices in the state of California, we construct a large dataset (approximately 2 million observations) that includes beer prices and packaging configurations. We merge this dataset with brewery attributes and county demographics to explore pricing...

Fuel price caps are one of the potential regulatory tools for controlling wholesale electricity prices when fuel prices are volatile. In this paper, we introduce a theoretical model to study the effects of such caps on firms’ bidding behavior and clearing prices in spot market auctions. We...

A growing empirical literature finds that firms pass the cost of minimum wage hikes onto consumers via higher retail prices. Yet, little is known about minimum wage effects on wholesale prices and whether retailers face a wholesale cost shock in addition to the labor cost shock. I exploit the...

Relational contracting (RC) is an important yet little understood governance of transactions that provides more stability than the spot market and more flexibility than vertical integration. Employing transaction data on a large vegetable wholesale market in China, we study RC alongside a...