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Mark-ups, industry structure and the business cycle

  • Weiss, Christoph R.
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    Information 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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    File URL: http://econstor.eu/bitstream/10419/38620/1/501303715.pdf
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    Paper provided by Christian-Albrechts-University of Kiel, Department of Food Economics and Consumption Studies in its series FE Working Papers with number 9902.

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    Date of creation: 1999
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    Handle: RePEc:zbw:caufew:9902
    Contact details of provider: Postal: Olshausenstra├če 40, 24098 Kiel
    Phone: +49 (0) 431 880 4425
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    Web page: http://www.food-econ.uni-kiel.de/

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    1. 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.
    2. Robert E. Hall, 1986. "The Relation Between Price and Marginal Cost in U.S. Industry," NBER Working Papers 1785, National Bureau of Economic Research, Inc.
    3. Schmalensee, Richard, 1989. "Inter-industry studies of structure and performance," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 16, pages 951-1009 Elsevier.
    4. Ian Domowitz & R. Glenn Hubbard & Bruce C. Petersen, 1986. "Business Cycles and the Relationship Between Concentration and Price-Cost Margins," RAND Journal of Economics, The RAND Corporation, vol. 17(1), pages 1-17, Spring.
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