Capital quasi-fixity and the estimation of markups
The treatment of capital costs, as either fixed or variable is a key for estimating markups. Data leans clearly towards fixity, which explains the high markups emphasized in previous studies based on Roeger's methodology. Direct estimation from the ratio of output over variable costs is preferable.
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- Henry Nieuwenhuijsen & Gerrit de Wit & Frank Hindriks, 2000.
"Comparative advantages in estimating markups,"
Scales Research Reports
H200003, EIM Business and Policy Research.
- Susanto Basu, 1994.
"Intermediate Goods and Business Cycles: Implications for Productivity and Welfare,"
NBER Working Papers
4817, National Bureau of Economic Research, Inc.
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- Basu, S., 1993. "Intermediate Goods and Business Cycles: Implications for Productivity and Welfare," Papers 93-23, Michigan - Center for Research on Economic & Social Theory.
- Hervé Boulhol, 2005. "Pro-competitive policies and the convergence of markups," Cahiers de la Maison des Sciences Economiques bla05019, Université Panthéon-Sorbonne (Paris 1).
- Robert E. Hall, 1986. "Market Structure and Macroeconomic Fluctuations," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 17(2), pages 285-338.
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