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Mark-Up Pricing in Bulgarian Manufacturing

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  • Rumen Dobrinsky
  • Boyko Nikolov
  • Nikolay Markov
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    Abstract

    The pricing policy of Bulgarian manufacturing firms is analysed in the paper in the context of the theory of the price-setting behaviour of firms endowed with market power, and more specifically, using the notion of mark-up pricing. Using some recent derivations in the literature, we estimate mark-up ratios for Bulgarian manufacturing sectors at the NACE 2-digit and NACE 3-digit levels. The estimated mark-ups are then tested against a set of variables measuring the degree of competitive pressure on a sectoral level.

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    File URL: http://www.wdi.umich.edu/files/Publications/WorkingPapers/wp389.pdf
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    Bibliographic Info

    Paper provided by William Davidson Institute at the University of Michigan in its series William Davidson Institute Working Papers Series with number 389.

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    Length: pages
    Date of creation: 01 Jun 2001
    Date of revision:
    Handle: RePEc:wdi:papers:2001-389

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    Related research

    Keywords: mark-up pricing; competetive pressure; enterprise restructuring and adjustment; Bulgaria;

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    References

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    1. Laszlo Halpern & Gabor Korost, 2001. "Mark-ups in the Hungarian Corporate Sector," William Davidson Institute Working Papers Series 411, William Davidson Institute at the University of Michigan.
    2. Schaffer, Mark E., 1998. "Do Firms in Transition Economies Have Soft Budget Constraints? A Reconsideration of Concepts and Evidence," Journal of Comparative Economics, Elsevier, vol. 26(1), pages 80-103, March.
    3. Eichner, Alfred S, 1973. "A Theory of the Determination of the Mark-up Under Oligopoly," Economic Journal, Royal Economic Society, vol. 83(332), pages 1184-1200, December.
    4. Hall, Robert E, 1988. "The Relation between Price and Marginal Cost in U.S. Industry," Journal of Political Economy, University of Chicago Press, vol. 96(5), pages 921-47, October.
    5. Joaquim Oliveira Martins & Stefano Scarpetta & Dirk Pilat, 1996. "Mark-Up Ratios in Manufacturing Industries: Estimates for 14 OECD Countries," OECD Economics Department Working Papers 162, OECD Publishing.
    6. Roeger, Werner, 1995. "Can Imperfect Competition Explain the Difference between Primal and Dual Productivity Measures? Estimates for U.S. Manufacturing," Journal of Political Economy, University of Chicago Press, vol. 103(2), pages 316-30, April.
    7. Joaquim Oliveira Martins & Stefano Scarpetta, 1999. "The Levels and Cyclical Behaviour of Mark-ups Across Countries and Market Structures," OECD Economics Department Working Papers 213, OECD Publishing.
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    Cited by:
    1. Rumen Dobrinsky & Gábor Korösi & Nikolay Markov & László Halpern, 2004. "Firms’ Price Markups and Returns to Scale in Imperfect Markets: Bulgaria and Hungary," William Davidson Institute Working Papers Series 2004-710, William Davidson Institute at the University of Michigan.

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