Research Seminars Dear all,     The following  virtual seminar will take place next week: Note the exceptional change in the schedule from Wednesday to THURSDAY Department of Economic Analysis & ICAE Research Seminars:   THURSDAY, September  24th, 2020, 13:00h;  Miguel Ángel Borrella-Mas (U Navarra)  https://sites.google.com/site/borrellamiguelangel/home   will present:   "The Heterogeneous Tax Pass-through under Different Vertical Relationship" Abstract: A large body of literature has examined the impact of the horizontal market structure on consumers' tax incidence, but do differences in the vertical market structure have an impact on the tax pass-through as well? To address this question, we first solve the optimal pricing problem for a retailer, which we embed in the classic "successive monopolies" framework. Then, we test our theoretical predictions using a confidential dataset on gas stations contracts with a major Spanish refiner, in combination with their retail fuel prices and characteristics. Consistently, we document that the pass-through of a tax onto prices is about 35 percent higher in vertically-integrated gas stations than in independent ones. Finally, our estimates allow us to assess the impact on government revenue of different counterfactual market scenarios.       You can join the  seminar through Google Hangout Meets at the following link:   JOIN WEBINAR_   @ucm accounts are granted immediate access to the webinar. External accounts require explicit approval by the moderators. We'll allow  access to the webinar to non anonymous and identified external accounts. The access is limited to 250 participants. The session will be recorded and posted at the seminar’s webpage. Please keep in mind  the (flexible)  protocol rules  for the virtual seminars. Since this webinar is a round table, the host will act as moderator.Everybody will be allowed to participate, but please keep your mics mute till the host assigns the turn of questions. It should be convenient for the audience to close the cameras. That would reduce signal jamming and liberate band connection.  We'll keep open the chat that could be appropriate for sending questions to the speaker. The organizers and the host will act as moderators and ask the questions raised in the chat channel. You can find the recording of the talk  as well as previous sessions, papers, and the schedule of upcoming seminars at the seminar’s webpage Hope to see you all there. Best,Jimenez-Martin, Juan-Ángel  Rodríguez Álvarez, Carmelo  Rodríguez Hernández, Juan Gabriel