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Profits, Variability of Profits and the Prices Justification Tribunal

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  • D. R. CHAPMAN
  • C. W. JUNOR

Abstract

In 1973 the Prices Justification Tribunal was established and given certain powers over the price‐setting practices of large firms in Australia. This paper addresses itself to the impact of that body on firms' markup. Using a large sample of Australian firms observed from 1969 to 1978, this paper establishes evidence that although a statistically significant downward effect on firms' markup can be attributed to the tribunal, in numerical terms the effect has been very small.

Suggested Citation

  • D. R. Chapman & C. W. Junor, 1981. "Profits, Variability of Profits and the Prices Justification Tribunal," The Economic Record, The Economic Society of Australia, vol. 57(2), pages 128-139, June.
    • Handle: RePEc:bla:ecorec:v:57:y:1981:i:2:p:128-139
    DOI: 10.1111/j.1475-4932.1981.tb01045.x
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    References listed on IDEAS

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    1. Hersh, Larry & Sundararajan, V, 1979. "Heteroscedasticity: Sampling Experiments on Weighted Least Squares Using MINQU Estimates of Variances and Other Variance Estimates," Australian Economic Papers, Wiley Blackwell, vol. 18(33), pages 351-361, December.
    2. Eisenbeis, Robert A, 1977. "Pitfalls in the Application of Discriminant Analysis in Business, Finance, and Economics," Journal of Finance, American Finance Association, vol. 32(3), pages 875-900, June.
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