Felix Montag

Felix Montag

I am an Assistant Professor in Economics at the New York University Stern School of Business, a Faculty Affiliate at the Centre for Economic Policy Research, and an Affiliate Fellow at the George J. Stigler Center for the Study of the Economy and the State at the University of Chicago Booth School of Business.

My primary field is industrial organization. Most of my work studies questions at the intersection with international trade.

Publications

Mergers, Foreign Competition, and Jobs: Evidence from the U.S. Appliance Industry

American Economic Review (June 2026)
Whirlpool’s acquisition of Maytag reduced consumer welfare by $271 million a year while preserving 797 domestic jobs. Each preserved job must be valued at more than $344,000 per year for the employment benefits to offset the consumer harm.
AER PDF HTML (mobile) Replication Package

When Does Mandatory Price Disclosure Lower Prices? Evidence from the German Fuel Market

with Alina Sagimuldina and Christoph Winter
Journal of Political Economy Microeconomics (February 2026)
Mandatory price disclosure lowered fuel prices in Germany; the effect was larger when consumers were less informed, sellers were more numerous, and the policy was paired with a complementary information campaign.
JPE Micro PDF HTML (mobile) ProMarket Policy Summary Replication Package

Working Papers

Mergers and the Demand for Protectionism

Working paper
Mergers between domestic firms strengthen incentives to lobby for tariffs against foreign rivals, a trade-policy channel of merger harm that current antitrust ignores. In the Whirlpool–Maytag case, this channel nearly doubles the consumer harm from market power alone.
PDF HTML (mobile)

Imperfect Price Information, Market Power, and Tax Pass-Through

with Robin Mamrak, Alina Sagimuldina, and Monika Schnitzer
Working paper
Pass-through of commodity taxes depends on how well consumers know prices: well-informed consumers see the full tax in the prices they pay, poorly-informed ones see only part. The effect of competition on pass-through is non-monotonic in the number of sellers.
Stigler Center Working Paper CEPR Discussion Paper ProMarket Policy Summary

Work in Progress

Competition, Production Locations, and Employment: The Welfare Effects of State Aid

with Laura Grigolon and Frank Verboven

Data & Replication

When Does Mandatory Price Disclosure Lower Prices? Evidence from the German Fuel Market

with Alina Sagimuldina and Christoph Winter

Replication package on Harvard Dataverse: doi:10.7910/DVN/HI5TPV

Mergers, Foreign Competition, and Jobs: Evidence from the U.S. Appliance Industry

Replication package on openICPSR: doi:10.3886/E238827V1

Teaching

Firms and Markets (MBA Core), NYU Stern School of Business

Fall 2024, Fall 2025

Managerial Economics (MBA Core), Tuck School of Business at Dartmouth College

Summer 2022, Summer 2023

Earlier B.Sc. tutorials and seminars at LMU Munich (2017–2022): see CV.

Contact