Firm characteristics and the ability to exercise market power: empirical evidence from the iron ore market

Market power and efficiency of Indian banks: does the “quiet life” hypothesis hold?

“…Furthermore, it accounts for the possibility that banks may not be efficient when minimizing their cost function (optimization error), and guarantees non-negative values (Batiz-Zuk and Lara-Sanchez, 2022, p. 11). Finally, the procedure may also take into account also other – firm-specific, macroeconomic and environmental – factors (Germeshausen et al. , 2020), relaxes assumptions that are usually made for simplicity (like constant returns to scale, or particular demand conditions), and allows the estimation of a unified structure that, besides a market power indicator, delivers measures of elasticity, returns to scale and efficiency (Scalco et al.…”

Does shipping market affect international iron ore trade?– An equilibrium analysis

“…First, they assume that the market is perfectly competitive based on general equilibrium theory, which is not consistent with reality. Germeshausen et al (2018) suggested the existence of imperfect competition among iron ore producers. Second, using these models, it is hard to solve industrial-economy issues, such as the impact of capacity change of the industrial sector on the commodity trade, since they ignore the restrictions on the movement of productive endowments and commodities.…”

Panel stochastic frontier models with endogeneity

“…Furthermore, Karakaplan (2017) offers a new command called to make it easy for researchers to analyze empirical stochastic frontier models with endogeneity. As a result of these efforts, many research articles such as Xu and Chen (2018), Germeshausen, Panke, and Wetzel (2020), and Karakaplan and Kutlu (2019) applied these methodologies and published various empirical findings.…”