Abstract
SUMMARYThis paper analyzes the effects of EEC and West German policy towards horizontal agreements and restrictive practices on the performance of the West German manufacturing sector. Three empirical studies are reported: (1) a time‐series study of price indexes for 10 products from the mid‐1950's to the present; (2) a cross‐section study (for 1979 data) of 106 industries; and (3) an analysis of changes in company profit margins over time. The results suggest some short‐run response to antitrust cases, but no long‐lasting ‘deterrent’ effect. There is some evidence of a ‘regime effect’ occurring after 1957, i. e., a general price decline in West German industry due to changes in the competitive environment which started in that year.
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