Richard Sweeney’s research while affiliated with Boston College and other places

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Publications (3)


Secrecy Rules and Exploratory Investment: Theory and Evidence from the Shale Boom
  • Article

January 2022

SSRN Electronic Journal

Thomas Covert

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Richard Sweeney

Pass-Through of Own and Rival Cost Shocks: Evidence from the U.S. Fracking Boom

May 2021

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7 Reads

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21 Citations

Review of Economics and Statistics

In imperfectly competitive settings, a firm's price depends on its own costs as well as those of its competitors. We demonstrate that this has important implications for the estimation and interpretation of pass-through. Leveraging a large input cost shock resulting from the fracking boom, we isolate price responses to firm-specific, regional and industry-wide input cost shocks in the US oil refining industry. The pass-through of these components vary from near zero to full pass-through, reconciling seemingly disparate results from the literature. We illustrate the policy implications of rival cost pass-through in the context of a tax on refinery carbon emissions.


Citations (2)


... In addition to the timing-based criteria, we require incident-specific clean control stores to be located between 30 to 50 miles from the respective victimized store (which we refer to as unaffected local markets). These conditions ensure a sizeable control group that is comparable to our treatment group while at the same time minimizing confounding effects from spillovers to nearby stores (Muehlegger and Sweeney, 2022). 4 Our paper is one of the first to extend the stacked DiD framework to spatial criteria, contributing to the advancing literature on this methodology (Cengiz et al., 2019;Deshpande and Li, 2019;Butters et al., 2022;Wing et al., 2024). ...

Reference:

The Pass-through of Retail Crime
Pass-Through of Own and Rival Cost Shocks: Evidence from the U.S. Fracking Boom
  • Citing Article
  • May 2021

Review of Economics and Statistics

... Seminal papers in this field include Porter (1995), who studied bidding for exploratory licenses. Related works extended the empirical framework to potential correlations across agents' valuations (Hendricks et al., 2003, Compiani et al., 2020, Kong et al., 2022, to sequential bidding (Kong, 2021) and auction design (Bhattacharya et al., 2022, Covert andSweeney, 2019). More recently, a literature developed investigating the mismatches between adopted technologies and oil field characteristics (Vreugdenhil, 2020) and how production cost differences across fields can be exploited to estimate the welfare losses due to misallocations (Asker et al., 2019) and to the OPEC cartel (Asker et al., 2021). ...

Relinquishing Riches: Auctions vs Informal Negotiations in Texas Oil and Gas Leasing
  • Citing Article
  • January 2019

SSRN Electronic Journal