Mark-ups, industry structure and the business cycle
AbstractInformation on the primal and dual productivity measure is used to estimate industry mark-ups for 4-digit U.S. manufacturing industries. Investigating the relationship between these estimates and various industry characteristics as well as their cyclical intensive industries with high growth rates and advertising to sales ratios. In contrast to previous research we do not find significant differences in mark-ups over the business cycle. We argue that the procyclicality of margins reported in earlier studies might be caused by the (false) assumption of identical average and marginal costs. --
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Bibliographic InfoPaper provided by Christian-Albrechts-University of Kiel, Department of Food Economics and Consumption Studies in its series FE Working Papers with number 9902.
Date of creation: 1999
Date of revision:
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- 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.
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"Inter-industry studies of structure and performance,"
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in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 16, pages 951-1009
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- 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.
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