Purpose The continuation of globalisation and liberalisation processes has prompted the restructuring many national local property markets. research examines evolution Istanbul's retail market to identify how global agents engage with one another produce a unique “glocalized” outcome. Design/methodology/approach morphogenetic approach is adapted applied analyse dynamics change. focus on charact...

We develop a reduced-form model of price transmission in a vertical sector, allowing for refined asymmetric, contemporaneous and lagged, own and cross price effects under time-varying volatility. The model is used to investigate wholesale-retail price dynamics in the US butter market. The analysis documents the nature of nonlinear price dynamics in a vertical sector, with implications for price...

We employ a stylized model of the electricity industry to examine the effects of restructuring on capacity investments, retail prices and welfare, allowing for uncertain demand. We consider the following market configurations: (i) integrated monopoly, (ii) integrated duopoly with wholesale trade, and (iii) separated duopoly with wholesale trade. We find that generators install sufficient capaci...

Estimating spending for prescription drugs has become increasingly difficult over the past 15 years as extensive changes have taken place within the retail prescription drug industry. Expenditures for prescription drugs in retail outlets grew rapidly during the 1980s and early 1990s. New retail outlets emerged and existing sites lost market share. New mechanisms for reimbursing drug purchases l...

Official interest rate changes should influence short rates on money market instruments and retail products, such as deposit accounts and mortgages, but complete pass-through is often taken for granted. This paper provides a theoretical and econometric framework for assessing the evidence for this assumption using seventeen years of monthly data for rates on thirteen deposit and mortgage produc...

Milk pricing in California is often controversial. Consumer advocates and their organizations periodically charge that retail milk prices are “unfair” or “too high” and call for public intervention in the fluid-milk market. The consumer view is expressed by Consumers Union, which after conducting surveys of retail milk prices in Los Angeles and San Francisco area food stores, charged that large...