Industrial Structure, Concentration and the Speed of Price Adjustment
AbstractIt is argued that the relationship between market structure and the speed of price adjustment involves two distinct forces with opposing directions: "t he leadership effect" and the "industry profitability effect." The direction of the relationship will depend on the relative importance of these effects. Estimation of an equation explaining the speed of price adjustment in terms of industrial concentration and the length of the production period provided evidence of negative effects for bo th the above variables. Copyright 1988 by Blackwell Publishing Ltd.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Journal of Industrial Economics.
Volume (Year): 36 (1988)
Issue (Month): 4 (June)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-1821
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- Schroeder, Ted C. & Goodwin, Barry K., 1990. "Regional Fed Cattle Price Dynamics," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 15(01), July.
- Franken, Jason R.V. & Parcell, Joseph L. & Sykuta, Michael E. & Fulcher, Christopher L., 2005. "Market Integration: Case Studies of Structural Change," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 34(2), October.
- Georg Müller & Mark Bergen & Shantanu Dutta & Daniel Levy, 2007. "Non-price rigidity and cost of adjustment," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 28(7), pages 817-832.
- Weiss, Christoph R., 1995. "Determinants of price flexibility in oligopolistic markets: Evidence from austrian manufacturing," Journal of Economics and Business, Elsevier, vol. 47(5), pages 423-439, December.
- Brorsen, B. Wade & Chavas, Jean-Paul & Grant, Warren R., 1991. "Market Structure And Spatial Price Dynamics," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 23(02), December.
- Goodwin, Barry K., 1992. "Forecasting Cattle Prices In The Presence Of Structural Change," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 24(02), December.
- Carlos Borondo, 1994. "La rigidez nominal de los precios de la Nueva Economía Keynesiana: una panorámica," Investigaciones Economicas, Fundación SEPI, vol. 18(2), pages 245-288, May.
- Schroeder, Ted C., 1997. "Fed Cattle Spatial Transactions Price Relationships," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 29(02), December.
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