Estimation of the Cyclical Behaviour of Mark-ups: A Technical Note
This paper presents estimates of the cyclical fluctuations of price-cost margins, following an extended version of the Rotemberg and Woodford (1991) approach. The results support the hypothesis of counter-cyclical price margins in most manufacturing industries, especially in the presence of downward...
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| Format: | Elektronisch Artikel |
| Sprache: | English |
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OECD Publishing
2003
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| Online-Zugang: | DE-862 DE-863 |
| Zusammenfassung: | This paper presents estimates of the cyclical fluctuations of price-cost margins, following an extended version of the Rotemberg and Woodford (1991) approach. The results support the hypothesis of counter-cyclical price margins in most manufacturing industries, especially in the presence of downward rigidities of labour inputs. This is consistent with a growing body of empirical literature showing that economic booms tend to increase competition or decrease the incentives for collusion, thereby creating downward pressures on price margins. It also offers an appealing interpretation of the otherwise puzzling pro-cyclicality of real wages. |
| Beschreibung: | 1 Online-Ressource (27 Seiten) |
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| 520 | |a This paper presents estimates of the cyclical fluctuations of price-cost margins, following an extended version of the Rotemberg and Woodford (1991) approach. The results support the hypothesis of counter-cyclical price margins in most manufacturing industries, especially in the presence of downward rigidities of labour inputs. This is consistent with a growing body of empirical literature showing that economic booms tend to increase competition or decrease the incentives for collusion, thereby creating downward pressures on price margins. It also offers an appealing interpretation of the otherwise puzzling pro-cyclicality of real wages. | ||
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| spelling | Oliveira Martins, Joaquim VerfasserIn aut Estimation of the Cyclical Behaviour of Mark-ups A Technical Note Joaquim, Oliveira Martins and Stefano, Scarpetta Paris OECD Publishing 2003 1 Online-Ressource (27 Seiten) Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier This paper presents estimates of the cyclical fluctuations of price-cost margins, following an extended version of the Rotemberg and Woodford (1991) approach. The results support the hypothesis of counter-cyclical price margins in most manufacturing industries, especially in the presence of downward rigidities of labour inputs. This is consistent with a growing body of empirical literature showing that economic booms tend to increase competition or decrease the incentives for collusion, thereby creating downward pressures on price margins. It also offers an appealing interpretation of the otherwise puzzling pro-cyclicality of real wages. Economics Scarpetta, Stefano MitwirkendeR ctb Enthalten in OECD Economic Studies Vol. 2002, no. 1, p. 173-188 volume:2002 year:2002 number:1 pages:173-188 Parallele Sprachausgabe Französisch Estimation du comportement cyclique des taux de marge : Une note technique |
| spellingShingle | Oliveira Martins, Joaquim Estimation of the Cyclical Behaviour of Mark-ups A Technical Note Economics |
| title | Estimation of the Cyclical Behaviour of Mark-ups A Technical Note |
| title_auth | Estimation of the Cyclical Behaviour of Mark-ups A Technical Note |
| title_exact_search | Estimation of the Cyclical Behaviour of Mark-ups A Technical Note |
| title_full | Estimation of the Cyclical Behaviour of Mark-ups A Technical Note Joaquim, Oliveira Martins and Stefano, Scarpetta |
| title_fullStr | Estimation of the Cyclical Behaviour of Mark-ups A Technical Note Joaquim, Oliveira Martins and Stefano, Scarpetta |
| title_full_unstemmed | Estimation of the Cyclical Behaviour of Mark-ups A Technical Note Joaquim, Oliveira Martins and Stefano, Scarpetta |
| title_short | Estimation of the Cyclical Behaviour of Mark-ups |
| title_sort | estimation of the cyclical behaviour of mark ups a technical note |
| title_sub | A Technical Note |
| topic | Economics |
| topic_facet | Economics |
| work_keys_str_mv | AT oliveiramartinsjoaquim estimationofthecyclicalbehaviourofmarkupsatechnicalnote AT scarpettastefano estimationofthecyclicalbehaviourofmarkupsatechnicalnote |