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Sectoral Productivity Growth And Price‐Marginal Cost Margins In The Intermediate Goods Market

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  • Alison Kelly‐Hawke

Abstract

Models of aggregate productivity growth linked to sectoral models of production typically assume that all intermediate goods markets are perfectly competitive. An econometric analysis reveals that many intermediate goods markets exhibit transactions at prices quite different than marginal cost. Measures of productivity growth that ignore these market imperfections are biased. A measure of the actual magnitude of the bias that emerges under the assumption of equating price to marginal cost is constructed.

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  • Alison Kelly‐Hawke, 1997. "Sectoral Productivity Growth And Price‐Marginal Cost Margins In The Intermediate Goods Market," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 43(2), pages 227-238, June.
    • Handle: RePEc:bla:revinw:v:43:y:1997:i:2:p:227-238
    DOI: 10.1111/j.1475-4991.1997.tb00216.x
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