On the gravitation and convergence of industry profit rates in Denmark, Finland, Italy and the US
AbstractThe hypotheses of profit rates gravitating around or converging towards a common value is tested using Danish, Finnish, Italian and US data. Both hypotheses are rejected for all the countries considered. This is interpreted as the result of limitations to capital mobility and of persistent differentials in the innovative performance of industries.
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Bibliographic InfoPaper provided by University of Verona, Department of Economics in its series Working Papers with number 02/2010.
Date of creation: Jan 2010
Date of revision:
capital mobility; gravitation of profit rates; convergence; SURE estimation; exactly median unbiased estimator;
Find related papers by JEL classification:
- L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
- L19 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Other
- L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
- L70 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - General
- L80 - Industrial Organization - - Industry Studies: Services - - - General
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