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L’effet pro-concurrentiel de l’intégration européenne : une analyse de l’évolution des taux de marge dans les industries manufacturières françaises

  • Flora Bellone

    (Université de Nice)

  • Patrick Musso

    (CNRS)

  • Lionel Nesta

    (Observatoire Français des Conjonctures Économiques)

  • Frédéric Warzynski

    (Aarhus School of Business)

We analyse the evolution of French mark-ups and their determinants in manufacturing industries from 1986 to 2004, using an extended version of Roeger?s specification. With a value of 13.8%, French mark-ups in manufacturing are found to be slightly above those found by Görg and Warzynski (2006) in UK manufacturing. Over the period, French mark-ups have gone down by 4 to 5%. We interpret this as being the pro-competitive consequences of European integration. We also find that the implementation of the Euro in 2002 has been associated with an increase of mark-up by 2%. French mark-ups are contra-cyclical and depend upon openness to international trade, industry concentration. These stylised facts must not conceal the fact that sectors are highly heterogeneous, where price determination by firms is highly sector specific. JEL Classification: D43 ; L1 ; L6 ; F14

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Paper provided by Observatoire Francais des Conjonctures Economiques (OFCE) in its series Documents de Travail de l'OFCE with number 2008-09.

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Date of creation: 2008
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Handle: RePEc:fce:doctra:0809
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  1. Jozef Konings & Patrick Van Cayseele & Frederic Warzynski, 1999. "The Dynamics of Industrial Markups in Two Small Open Economies: Does National Competition Policy Matter ?," Center for Economic Studies - Discussion papers ces9914, Katholieke Universiteit Leuven, Centrum voor Economische Studiën.
  2. 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.
  3. Dobbelaere, Sabien & Mairesse, Jacques, 2010. "Panel Data Estimates of the Production Function and Product and Labor Market Imperfections," IZA Discussion Papers 5176, Institute for the Study of Labor (IZA).
  4. John Haltiwanger & C J Krizan & Lucia Foster, 1998. "Aggregate Productivity Growth: Lessons From Microeconomic Evidence," Working Papers 98-12, Center for Economic Studies, U.S. Census Bureau.
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  6. 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.
  7. Hervé Boulhol, 2005. "The upward bias of markups estimated from the price-based methodology," Cahiers de la Maison des Sciences Economiques bla05055, Université Panthéon-Sorbonne (Paris 1).
  8. Jan Boone, 2008. "A New Way to Measure Competition," Economic Journal, Royal Economic Society, vol. 118(531), pages 1245-1261, 08.
  9. Bellone, Flora & Musso, Patrick & Nesta, Lionel & Warzynski, Frederic, 2008. "Endogenous Markups, Firm Productivity and International Trade: : Testing SomeMicro-Level Implications of theMelitz-Ottaviano Model," Working Papers 08-20, University of Aarhus, Aarhus School of Business, Department of Economics.
  10. Bruno Crépon & Rozen Desplatz & Jacques Mairesse, 2010. "Price-Cost Margins and Rent Sharing: Evidence from a Panel of French Manufacturing Firms," NBER Chapters, in: Contributions in Memory of Zvi Griliches, pages 583-610 National Bureau of Economic Research, Inc.
  11. Olivier Jean Blanchard & Stanley Fischer, 1991. "NBER Macroeconomics Annual 1991, Volume 6," NBER Books, National Bureau of Economic Research, Inc, number blan91-1.
  12. Julio J. Rotemberg & Michael Woodford, 1991. "Markups and the Business Cycle," NBER Chapters, in: NBER Macroeconomics Annual 1991, Volume 6, pages 63-140 National Bureau of Economic Research, Inc.
  13. Henry Nieuwenhuijsen & Gerrit de Wit & Frank Hindriks, 2000. "Comparative advantages in estimating markups," Scales Research Reports H200003, EIM Business and Policy Research.
  14. 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.
  15. Mark Doms & Eric J. Bartelsman, 2000. "Understanding Productivity: Lessons from Longitudinal Microdata," Journal of Economic Literature, American Economic Association, vol. 38(3), pages 569-594, September.
  16. Bresnahan, Timothy F., 1989. "Empirical studies of industries with market power," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 17, pages 1011-1057 Elsevier.
  17. Bottasso, Anna & Sembenelli, Alessandro, 2001. "Market power, productivity and the EU Single Market Program: Evidence from a panel of Italian firms," European Economic Review, Elsevier, vol. 45(1), pages 167-186, January.
  18. Flora Bellone & Patrick Musso & Lionel Nesta & Michel Quéré, 2006. "Caractéristiques et performances des firmes exportatrices françaises," Revue de l'OFCE, Presses de Sciences-Po, vol. 98(3), pages 183-212.
  19. Holger Görg & Frédéric Warzynski, 2006. "The Dynamics of Price Cost Margins: Evidence from UK Manufacturing," Revue de l'OFCE, Presses de Sciences-Po, vol. 97(5), pages 303-318.
  20. Jacques-Bernard Sauner-Leroy, 2003. "The impact of the implementation of the Single Market Programme on productive efficiency and on mark-ups in the European Union manufacturing industry," European Economy - Economic Papers 192, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
  21. 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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  23. repec:spo:wpecon:info:hdl:2441/7184 is not listed on IDEAS
  24. Harald Badinger, 2007. "Has the EU's Single Market Programme Fostered Competition? Testing for a Decrease in Mark-up Ratios in EU Industries," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 69(4), pages 497-519, 08.
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