The Heterogeneous Tax Pass-Through Under Different Vertical Relationships
利用西班牙加油站合同与零售价格数据，研究发现纵向一体化加油站的税收转嫁率比独立加油站高约38%，并评估了不同市场情景下对政府收入和排放的影响。
Abstract A large body of literature has examined the impact of the horizontal market structure on the tax incidence on consumers. However, the extent to which the vertical market structure affects the tax pass-through—which might be particularly relevant in the presence of the double marginalisation problem—is an unexplored question. Using a confidential dataset of gas station contracts with a major Spanish refiner, in combination with their retail fuel prices and characteristics, we document that the pass-through of a tax on prices is about 38% higher in vertically integrated gas stations than in independent ones. Our estimates allow us to assess the impact on government revenue and emissions under different counterfactual market scenarios.