This paper estimates the mark-up of price over marginal cost in manufacturing for the seven major OECD countries. Applying Hall's approach to market-power measurement we have estimated the cyclical behaviour of the mark-up. A substantial degree of market power has been estimated in all countries examined and pro-cyclical movements in the mark-up. Competition seems to affect the level of mark-up negatively.
Beccarello, M. (1997). Time series analysis of market power: Evidence from G-7 manufacturing. INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION, 15(1), 123-136 [10.1016/0167-7187(95)00492-0].
Time series analysis of market power: Evidence from G-7 manufacturing
Beccarello, M
1997
Abstract
This paper estimates the mark-up of price over marginal cost in manufacturing for the seven major OECD countries. Applying Hall's approach to market-power measurement we have estimated the cyclical behaviour of the mark-up. A substantial degree of market power has been estimated in all countries examined and pro-cyclical movements in the mark-up. Competition seems to affect the level of mark-up negatively.
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