Nathan Miller


Working papers and research projects

Mergers, Entry, and Consumer Welfare (with Peter Caradonna and Gloria Sheu), June 2022.

Rising Markups and the Role of Consumer Preferences (with Henrik Döpper, Alexander MacKay, and Joel Stiebale), October 2022.

Technology and Market Power: The United States Cement Industry, 1974-2019 (with Matthew Osborne, Gloria Sheu, and Gretchen Sileo), March 2023.

Estimating Models of Supply and Demand: Instruments and Covariance Restrictions (with Alexander MacKay), February 2023.

The Price That Inmates Pay (with Marleen Marra and Gretchen Sileo), November 2022.

Buyer Power in the Beef Packing Industry (with Francisco Garrido, Minji Kim, and Matthew Weinberg), summary of resarch progress, April 2022.

A Price Leadership Model for Merger Analysis (with Ryan Mansley, Gloria Sheu and Matthew Weinberg), September 2022, revisions requested from International Journal of Industrial Organization.

Selected publications

Rising Markups, Rising Prices? (with Chris Conlon, Tsolmon Otgon, and Yi Yao. AEA: Papers and Proceedings, Forthcoming (May 2023). [Slides]

Price-Fixing Allegations in the Canned Tuna Industry: A Look at the Data (with Minhae Kim, Ryan Mansley, Marc Remer, and Matthew Weinberg), Antitrust Bulletin, Forthcoming (2023).

On the Misuse of Regressions of Price on the HHI in Merger Review (with Steven Berry, Fiona Scott Morton, Jonathan Baker, Timothy Bresnahan, Martin Gaynor, Richard Gilbert, George Hay, Ginger Jin, Bruce Kobayashi, Francine Lafontaine, James Levinsohn, Leslie Marx, John Mayo, Aviv Nevo, Ariel Pakes, Nancy Rose, Daniel Rubinfeld, Steven Salop, Marius Schwartz, Katja Seim, Carl Shapiro, Howard Shelanski, David Sibley, Andrew Sweeting, and Marta Wosinska), Journal of Antitrust Enforcement, Vol. 10, No. 2, 249-259 (2022).

Oligopolistic Price Leadership and Mergers: The United States Beer Industry (with Gloria Sheu and Matthew Weinberg). American Economic Review, Vol. 111, No. 10, 3123-3159 (2021).

Quantitative Methods for Evaluating the Unilateral Effects of Mergers (with Gloria Sheu), Review of Industrial Organization, Vol. 58, No. 1, 143-177 (2021). Special Issue: The 2010 Horizontal Merger Guidelines after Ten Years.

Finding Mr. Schumpeter: Technology Adoption in the Cement Industry (with Jeffrey Macher and Matthew Osborne). RAND Journal of Economics, Vol. 52, No. 1, 78-99 (2021).

Forward Contracts, Market Structure, and the Welfare Effects of Mergers (with Joe Podwol). Journal of Industrial Economics, Vol. 68, No. 2, 364-407 (2020).

Understanding the Price Effects of the MillerCoors Joint Venture (with Matthew Weinberg). Econometrica, Vol. 85, No. 6, 1763-1791 (2017). Here is the online appendix and this supplement summarizes some additional analyses not included in the article or the online appendix.

Upward Pricing Pressure as a Predictor of Merger Price Effects (with Marc Remer, Conor Ryan, and Gloria Sheu). International Journal of Industrial Organization, Vol. 52, 216-247 (2017).

Pass-Through in a Concentrated Industry: Empirical Evidence and Regulatory Implications (with Matthew Osborne and Gloria Sheu). RAND Journal of Economics, Vol. 48, No. 1, 69-93 (2017).

Pass-Through and the Prediction of Merger Price Effects (with Marc Remer, Conor Ryan, and Gloria Sheu). Journal of Industrial Economics, Vol. 64, December, 684-709 (2016).

Modeling the Effects of Mergers in Procurement. International Journal of Industrial Organization, Vol. 37, November, 201-208 (2014). This addendum clarifies the notation used in the article.

Spatial Differentiation and Price Discrimination in the Cement Industry: Evidence from a Structural Model (with Matthew Osborne). RAND Journal of Economics, Vol. 45, No. 2, 221-247 (2014). Online Appendix.

Bias in Reduced-Form Estimates of Pass-Through (with Alexander MacKay, Marc Remer, and Gloria Sheu). Economics Letters, Vol. 123, No. 2, 200-202 (2014).

Consistency and Asymptotic Normality for Equilibrium Models with Partially Observed Outcome Variables (with Matthew Osborne). Economics Letters, Vol. 123, No. 1, 70-74 (2014).

Automakers' Short-Run Responses to Changing Gasoline Prices (with Ashley Langer). Review of Economics and Statistics, Vol. 95, No. 4, 1198-1211 (2013).

Using Cost Pass-Through to Calibrate Demand (with Marc Remer and Gloria Sheu), Economics Letters, Vol. 118, 451-454 (2013).

The Entry Incentives of Complimentary Producers: A Simple Model with Implications for Antitrust Policy (with Juan Lleras), Economics Letters, Vol. 110, No. 2, 147-150 (2011).

Why Do Borrowers Pledge Collateral? New Empirical Evidence on the Role of Asymmetric Information (with Allen Berger, Marco Espinosa-Vega and Scott Frame), Journal of Financial Intermediation, Vol. 20, No. 1, 55-70 (2011).

Strategic Leniency and Cartel Enforcement, American Economic Review, Vol. 99, No. 3, 750-68 (2009).

Debt Maturity, Risk, and Asymmetric Information (with Allen Berger, Marco Espinosa-Vega and Scott Frame), Journal of Finance, Vol. 60, No. 6, 2895-2923 (2005).

Does Function Follow Organizational Form? Evidence from the Lending Practices of Large and Small Banks (with Allen Berger, Mitch Petersen, Raghuram Rajan and Jeremy Stein, Journal of Financial Economics, Vol. 76, No. 2, 237-269 (2005).

Credit Scoring and the Availability, Price and Risk of Small Business Credit (with Allen Berger and Scott Frame), Journal of Money, Credit and Banking, Vol. 37, No. 2, 191-222 (2005).