- Additional Authors
- Scarpetta, Stefano.
- Description
- 29 p.; 21 x 29.7cm.
- Summary
- In this paper, we present estimates of the mark-up of product price over marginal costs for the US manufacturing industries over the 1970-1992 period. The paper extends the analysis used in previous studies based on nominal productivity residuals by considering intermediate inputs and cyclical fluctuations of price margins. The estimated steady-state mark-ups are positive but moderate, generally in the range of 10-20 per cent. The results also support the hypothesis of countercyclical price margins in most manufacturing industries, especially in the presence of downward rigidities of labour inputs. This offers an appealing interpretation of the otherwise puzzling procyclicality of real wages and enables to better estimate TFP. We also discuss the role of market structures on the levels and cyclicality of mark-ups. Finally, we compare the results for the United States with those of the other G-5 countries and distinguish between fragmented and segmented industries. The latter ...
- Series Statement
- OECD Economics Department Working Papers, 1815-1973 ; no.213
- Uniform Title
- OECD Economics Department Working Papers, no.213.
- Subject
- Economics
- LCCN
- 10.1787/817488867486
- OCLC
- oecd-lib
- Author
Oliveira Martins, Joaquim.
- Title
The Levels and Cyclical Behaviour of Mark-ups Across Countries and Market Structures [electronic resource] / Joaquim Oliveira Martins and Stefano Scarpetta
- Imprint
Paris : OECD Publishing, 1999.
- Series
OECD Economics Department Working Papers, 1815-1973 ; no.213
OECD Economics Department Working Papers, 1815-1973 ; no.213.
- Connect to:
- Indexed Term
Economics
- Added Author
Scarpetta, Stefano.
- Other Standard Identifier
10.1787/817488867486 doi