A model is estimated for oligopolistic industries producing multiple outputs in short-run equilibrium. Outputs are sold domestically and exported, while capital is treated as a quasi-fixed factor. The model is applied to the Canadian nonelectrical machinery, electrical products and chemical products industries. The results show that there is significant oligopoly power in each of the industries, and that the degree of this power differs between the domestic and export markets. Total factor productivity is decomposed. Price-cost margins exert little influence but the rate of technological change, returns to scale and the rate of capital adjustment determine productivity growth.
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number
3584.
Length: Date of creation: Dec 1991 Date of revision: Publication status: published as The Canadian Journal of Economics, Vol. 24 No. 3, pp. 638-659, (August 1991). Handle: RePEc:nbr:nberwo:3584
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Cowling, Keith & Waterson, Michael, 1976.
"Price-Cost Margins and Market Structure,"
Economica,
London School of Economics and Political Science, vol. 43(171), pages 267-74, August.
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