Competencia y medidas liberalizadoras en el sector minorista de hidrocarburos: análisis del efecto sobre los precios de la entrada de nuevos operadores en España

González, Juan Luis Jiménez; García, Jordi Perdiguero; Bernardo, Valeria Fernanda

doi:10.32796/cice.2014.88.6087

Cited by 3 publications

(7 citation statements)

References 2 publications

(3 reference statements)

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“…Our results, together with those of other recent papers (Bernardo et al, 2014;Jiménez and Perdiguero, 2014;Maudes, 2013;Perdiguero, 2012Perdiguero, , 2010, indicate that there is room for more effective competition in the Spanish retail automotive market. This, in turn, shows how difficult it is to achieve competitive energy markets, even many years after their formal liberalizations, when the restructuring and liberalization processes pursue the maintenance of the status quo and the creation of national champions (Contín et al, 1999;Correljé, 1994;Perdiguero, 2012).…”

Section: Introductionsupporting

confidence: 82%

“…With regard to the economic literature, a growing number of papers have analysed the Spanish retail automotive fuel market over recent years. In line with our research interest, Perdiguero and Jiménez (2009), Jiménez and Perdiguero (2014), Perdiguero (2010), and Bernardo et al (2014, using price data at national, regional and local levels and different econometric techniques, have investigated the competitive functioning of the sector. The results of these studies point to a lack of effective competition in the market.…”

Section: Abuse Of Market Powermentioning

confidence: 86%

“…In addition, some of the largest fines have been annulled by the judicial courts because of lack of reasoning concerning the criteria used in setting the fine. As a result, many antitrust decisions are appealed, which can lengthen the antitrust cases to more than a decade (Bernardo et al, 2014). These authors advocate for the adoption of clear regulatory guidelines in Spain that should be followed by the CNMC in imposing the fines for antitrust infringements (Marcos, 2007) and call for more resources and competencies for the CNMC (Perdiguero, 2012), which may increase the deterrent effects of Spanish antitrust laws.…”

Section: Discussionmentioning

confidence: 99%

“…However, some authors (Bernardo et al, 2014;Perdiguero, 2012;Marcos, 2007) point out that the enforcement of the antitrust laws in Spain has been rather faulty, which renders it difficult to deter anti-competitive behaviours. More specifically, Marcos (2007) argues that the lack of any guidelines in setting the amount of the fine frequently leads to small fines and that the Antitrust Authority's policy in setting the amount of fines has been rather "erratic".…”

Section: Discussionmentioning

confidence: 99%

“…. SeeBernardo et al (2014) for an overview of the main antitrust investigations carried out by the CNC over recent years in the oil sector.…”

mentioning

confidence: 99%

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Pricing and Margins in the Retail Automotive Fuel Market: Empirical Evidence from Spain

Cont�n-Pilart¹,

Palacios²

2018

The Energy Journal

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This paper analyses the evolution of gross retail margins for automotive fuels in Spain between January 2001 and February 2013. We firstly empirically test for breaks in the time series of gross margins. Our results indicate that there is only one break-point, in mid-2008, just when the demand for automotive fuels drops due to the economic crisis and the difference between the Spanish and the European retail margins increase notably. In addition, a regression analysis shows that the gross retail margins were higher during the recessive period of the Spanish economy (2008)(2009)(2010)(2011)(2012)(2013) than before. Furthermore, we examine the causes of the break-point and of the subsequent evolution of margins. We find no evidence to support either the prohibition of using retail price maintenance (RPM) and recommended prices in the supply contracts or a supply cost change of automotive fuels as the cause of the evolution of retail margins. In addition, empirical evidence indicates that retail prices respond symmetrically to changes in wholesale prices. Instead, we show that the data are consistent with some firms exercising market power during the recessive period of the Spanish economy.

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Section: Introductionsupporting

confidence: 82%

Section: Abuse Of Market Powermentioning

confidence: 86%