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Market concentration and producer prices

Author

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  • Huzeyfe Torun
  • Ahmet Duhan Yassa

Abstract

This study investigates the role of sectoral market structure in the inflationary dynamics of the domestic producer prices (D-PPI) in Turkiye. We start by reporting the fact that industries with intense competition had lower producer price inflation compared to industries with low-competition in the past few years. Further investigation shows that this differentiation across industries corresponds to the years with higher exchange rate volatility. The industries characterized with low-competition have higher annual producer price inflation on average than those that are characterized with high-competition especially during the periods of high exchange rate volatility. Results are robust to a wide set of additional specifications and cast light on the role of market structure on firms' pricing behavior in Turkiye.

Suggested Citation

  • Huzeyfe Torun & Ahmet Duhan Yassa, 2023. "Market concentration and producer prices," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 23(1), pages 1-14.
    • Handle: RePEc:tcb:cebare:v:23:y:2023:i:1:p:1-14
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