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Tracing The Dynamics Of Competition: Evidence From Company Profits

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Author Info
JESÚS CRESPO CUARESMA
ADELINA GSCHWANDTNER

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Abstract

"This article proposes a simple approach to analyzing profit dynamics, which allows for time-varying persistence of profits. The time series model is a simple autoregressive process where the dynamics of the persistence parameter follow an autoregressive process. Using the longest time series available on profits for more than a hundred U.S. firms, we find that there is ample evidence of time variation in the persistence parameter." ("JEL" L00, C22) Copyright (c) 2007 Western Economic Association International.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1465-7295.2007.00062.x
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Publisher Info
Article provided by Western Economic Association International in its journal Economic Inquiry.

Volume (Year): 46 (2008)
Issue (Month): 2 (04)
Pages: 208-213
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Handle: RePEc:bla:ecinqu:v:46:y:2008:i:2:p:208-213

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Jesus Crespo Cuaresma & Adelina Gschwandtner, 2006. "The competitive environment hypothesis revisited: non-linearity, nonstationarity and profit persistence," Applied Economics, Taylor and Francis Journals, vol. 38(4), pages 465-472, March. [Downloadable!] (restricted)
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  2. Kambhampati, U S, 1995. "The Persistence of Profit Differentials in Indian Industry," Applied Economics, Taylor and Francis Journals, vol. 27(4), pages 353-61, April.
  3. Mueller, Dennis C, 1977. "The Persistence of Profits above the Norm," Economica, London School of Economics and Political Science, vol. 44(176), pages 369-80, November. [Downloadable!] (restricted)
  4. Glen, Jack & Lee, Kevin & Singh, Ajit, 2001. "Persistence of profitability and competition in emerging markets," Economics Letters, Elsevier, vol. 72(2), pages 247-253, August. [Downloadable!] (restricted)
  5. Odagiri, Hiroyuki & Yamawaki, Hideki, 1986. "A study of company profit-rate time series : Japan and the United States," International Journal of Industrial Organization, Elsevier, vol. 4(1), pages 1-23, March. [Downloadable!] (restricted)
  6. Adelina Gschwandtner, 2004. "Evolution of Profit Persistence in the US: Evidence from four 20-years periods," Vienna Economics Papers 0410, University of Vienna, Department of Economics. [Downloadable!]
  7. B. Burcin Yurtoglu, 2004. "Persistence of firm-level profitability in Turkey," Applied Economics, Taylor and Francis Journals, vol. 36(6), pages 615-625, April. [Downloadable!] (restricted)
  8. Goddard, J. A. & Wilson, J. O. S., 1999. "The persistence of profit: a new empirical interpretation," International Journal of Industrial Organization, Elsevier, vol. 17(5), pages 663-687, July. [Downloadable!] (restricted)
  9. Adelina Gschwandtner, 2004. "Profit Persistence in the "Very" Long Run: Evidence from Survivors and Exiters," Vienna Economics Papers 0401, University of Vienna, Department of Economics. [Downloadable!]
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  1. Adelina Gschwandtner & Jesus Crespo Cuaresma, 2008. "Explaining the persistence of profits: A time-varying approach," Vienna Economics Papers 0806, University of Vienna, Department of Economics. [Downloadable!]
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