This paper explores the extent to which markups of selected Greek manufacturing industries are affected by the high level and variability of the inflation rate using annual industry data from the period 1958-1990. In addition, it is examined whether or not the state of demand, current or future, together with import competition exert any influence on markups. This empirical analysis may shed new light on the theoretical developments in new Keynesian economics that are currently formulated. JEL Classification: B2, C5, D4, E3. Keywords: Market Power, Inflation, Business Cycles, New Keynesian Economics.
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Find related papers by JEL classification: B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General D40 - Microeconomics - - Market Structure and Pricing - - - General E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
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