Nathan Miller


Working papers and research projects

Finding Mr. Schumpeter: An Empirical Study of Competition and Technology Adoption (with Jeffrey Macher and Matthew Osborne), January 2017. First draft August 2015.

The Market Power Effects of a Merger: Evidence from the U.S. Brewing Industry (with Matthew Weinberg). July 2016. Resubmitted to Econometrica. Previously circulated as "Mergers Facilitate Tacit Collusion: Empirical Evidence from the U.S. Brewing Industry."

  • Lanzilloti Prize for the best paper in antitrust economics at the 2015 International Industrial Organization Conference.

Forward Contracts, Market Structure, and the Welfare Effects of Mergers (with Joe Podwol). January 2017 draft. Revisions underway.

Pass-Through Consistent Structural Estimation (with Matthew Osborne and Gloria Sheu), work in progress.


Upward Pricing Pressure as a Predictor of Merger Price Effects (with Marc Remer, Conor Ryan, and Gloria Sheu), January 2017. Accepted at International Journal of Industrial Organization.

Pass-Through in a Concentrated Industry: Empirical Evidence and Regulatory Implications (with Matthew Osborne and Gloria Sheu), July 2016. Accepted at RAND Journal of Economics.

Pass-Through and the Prediction of Merger Price Effects (with Marc Remer, Conor Ryan, and Gloria Sheu), June 2015. Accepted at Journal of Industrial Economics.

  • R Code for replication of the Monte Carlo experiments
  • Simpler R Code for use in merger investigations

Modeling the Effects of Mergers in Procurement. International Journal of Industrial Organization, Vol. 37, November, 201-208 (2014).

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).

Choosing Appropriate Control Groups in Merger Evaluations (with Aditi Mehta), The Pros and Cons of Merger Enforcement

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).

  • 2007 COMPASS Prize for best paper on competition policy by a graduate student.
  • 2009 Jerry S. Cohen Award for Antitrust Scholarship (honorary mention)

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).

Inactive Research Projects

Cumulative Innovation and Competition Policy (with Alex Raskovich). EAG Discussion Paper 10-5 (2010).

Competition when Consumers Value Firm Scope, EAG Discussion Paper 08-7 (2008).