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Real wages, profit margins and inflation in Turkish manufacturing under post-liberalization

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  • Asli Gunay
  • Kivilcim Metin-Ozcan
  • Erinc Yeldan

Abstract

This article reports investigations into the behaviour of gross profit margins (mark-ups) in Turkish manufacturing industries for the post-1980 liberalization period in relation to price inflation, trade liberalization (openness) and real wage costs. Panel data econometrics over 29 subsectors of Turkish manufacturing are used over the period 1980-1996. Results suggest that profit margins are positively and significantly related both to price inflation and real wage costs. However, openness is found to have very little impact on profit margins.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics.

Volume (Year): 37 (2005)
Issue (Month): 16 ()
Pages: 1899-1905

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Handle: RePEc:taf:applec:v:37:y:2005:i:16:p:1899-1905

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  1. Robert S. Chirinko & Steven M. Fazzari, 2000. "Market Power and Inflation," The Review of Economics and Statistics, MIT Press, vol. 82(3), pages 509-513, August.
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  12. Kaskarelis, Ioannis & Tsoulfidis, Lefteris, 1999. "Inflation, Demand, Import Competition and Markups in Greek Manufacturing Industries," Economia Internazionale / International Economics, Camera di Commercio di Genova, vol. 52(2), pages 151-171.
  13. Nicoletta Batini & Brian Jackson & Stephen Nickell, 2000. "Inflation Dynamics and the Labour Share in the UK," Discussion Papers 02, Monetary Policy Committee Unit, Bank of England.
  14. Anil Duman, 2002. "Inflation Targeting as a Monetary Policy and its Applicability to Developing Countries," Working Papers 0207, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
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Cited by:
  1. Kumar, Saten & Webber, Don J. & Perry, Geoff, 2009. "Real Wages, Inflation and Labour Productivity in Australia," MPRA Paper 19293, University Library of Munich, Germany.

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