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Die Zyklik der Profite in der Ernährungswirtschaft: Ein internationaler Vergleich

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  • Koerner, Julia
  • Weiss, Christoph R.
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    Abstract

    Im Rahmen des Struktur-Verhaltens-Ergebnis-Ansatz analysiert der vorliegende Aufsatz die Determinanten und die Zyklik der Profite verschiedener Branchen der Ernährungswirtschaft in Deutschland, den USA sowie den Niederlanden. Aus der Schwankung der Profite im Zeitablauf lassen sich, bei gegebener Marktstruktur, Hinweise auf die Intensität des Wettbewerbs und damit das Verhalten der Unternehmen gewinnen. Die Ergebnisse der ökonometrischen Panelanalyse zeigen ausgeprägte prozyklische Schwankungen der Profite in Deutschland in hochkonzentrierten Branchen, während das Ausmaß der Schwankungen in Branchen mit niedriger Konzentration in Deutschland sowie in sämtlichen Branchen der USA gering ist. Die Beobachtungen für Deutschland deuten auf eine Zunahme der Wettbewerbsintensität in einer Rezession hin. Die Schätzung ökonometrischer Modelle für die Niederlande führt zu unbefriedigenden Ergebnissen. -- Based upon the structure-conduct-performance-approach the present paper analyses determinants of price-cost-margins over the business cycle for food industries in Germany, the USA as well as the Netherlands. Controlling for market structure variables, cyclical fluctuations in profitability are interpreted as evidence for changes in firm behaviour. The econometric panel data models reveal procyclic fluctuations of profits in highly concentrated industries in Germany. In contrast, profitability in competitive industries in Germany as well as in all US-food industries are found to be more stable over the business cycle. This observation is explicable in terms of a more aggressive behaviour of firms in boom periods. The econometric model does not adequately explain industry differences in profitability in the Netherlands.

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    Bibliographic Info

    Paper provided by Christian-Albrechts-University of Kiel, Department of Food Economics and Consumption Studies in its series FE Working Papers with number 0101.

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    Date of creation: 2001
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    Handle: RePEc:zbw:caufew:0101

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    Postal: Olshausenstraße 40, 24098 Kiel
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    Web page: http://www.food-econ.uni-kiel.de/
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    Keywords: Struktur-Verhalts-Ergebnis-Ansatz; LERNER-Index; Ernährungswirtschaft; Panelanalyse; Deutschland; Niederlande; structure-conduct-performance-approach; LERNER-index; food industries; panel data; Germany; Netherlands; USA;

    References

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    1. Weiss, Christoph R., 1999. "Determinanten und Zyklik der Profite im produzierenden Ernährungsgewerbe Deutschlands," FE Working Papers 9904, Christian-Albrechts-University of Kiel, Department of Food Economics and Consumption Studies.
    2. Schmalensee, Richard, 1977. "Using the H-Index of Concentration with Published Data," The Review of Economics and Statistics, MIT Press, vol. 59(2), pages 186-93, May.
    3. Warner, Elizabeth J & Barsky, Robert B, 1995. "The Timing and Magnitude of Retail Store Markdowns: Evidence from Weekends and Holidays," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 110(2), pages 321-52, May.
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    6. Domowitz, Ian & Hubbard, R Glenn & Petersen, Bruce C, 1988. "Market Structure and Cyclical Fluctuations in U.S. Manufacturing," The Review of Economics and Statistics, MIT Press, vol. 70(1), pages 55-66, February.
    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.
    8. Edward J Green & Robert H Porter, 1997. "Noncooperative Collusion Under Imperfect Price Information," Levine's Working Paper Archive 1147, David K. Levine.
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    11. Haskel, Jonathan & Martin, Christopher & Small, Ian, 1995. "Price, Marginal Cost and the Business Cycle," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, Department of Economics, University of Oxford, vol. 57(1), pages 25-41, February.
    12. Rotemberg, Julio J & Saloner, Garth, 1986. "A Supergame-Theoretic Model of Price Wars during Booms," American Economic Review, American Economic Association, American Economic Association, vol. 76(3), pages 390-407, June.
    13. Viaene, Jacques & Gellynck, Xavier, 1995. "Structure, Conduct and Performance of the European Food Sector," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 22(3), pages 282-95.
    14. Cowling, Keith & Waterson, Michael, 1976. "Price-Cost Margins and Market Structure," Economica, London School of Economics and Political Science, London School of Economics and Political Science, vol. 43(171), pages 267-74, August.
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    16. Ghosal, Vivek, 2000. "Product market competition and the industry price-cost markup fluctuations:: role of energy price and monetary changes," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 18(3), pages 415-444, April.
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    Cited by:
    1. Wittkopp, Antje & Körner, Julia, 2001. "Produktdiversifikation und Profitabilität der deutschen Ernährungswirtschaft: Eine theoretische und empirische Betrachtung," FE Working Papers 0103, Christian-Albrechts-University of Kiel, Department of Food Economics and Consumption Studies.
    2. Perekhozhuk, Oleksandr, 2007. "Marktstruktur und Preisbildung auf dem ukrainischen Markt für Rohmilch," Studies on the Agricultural and Food Sector in Central and Eastern Europe, Leib­niz Institute of Agricultural Development in Central and Eastern Europe (IAMO), volume 41, number 92322.
    3. Korner, Julia & Weiss, Christoph R., 2001. "Die Zyklik der Profite in der Ernährungswirtschaft: Ein internationaler Vergleich," German Journal of Agricultural Economics, Humboldt-Universitaet zu Berlin, Department for Agricultural Economics, Humboldt-Universitaet zu Berlin, Department for Agricultural Economics, vol. 50(3).

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