全球智库信息集成服务系统(G2TT): DP6288 Growth and relative living standards - testing Barriers to Riches on post-war panel data

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP6288
	DP6288 Growth and relative living standards - testing Barriers to Riches on post-war panel data
	Patrick Minford; Jiang Wang; David Meenagh
发表日期	2007-05-11
出版年	2007
语种	英语
摘要	We introduce a new measure of competition: the elasticity of a firm's profits with respect to its cost level. A higher value of this profit elasticity (PE) signals more intense competition. Using firm-level data we compare PE with the most popular competition measures such as the price cost margin (PCM). We show that PE and PCM are highly correlated on average. However, PCM tends to misrepresent the development of competition over time in markets with few firms and high concentration, i.e. in markets with high policy relevance. So, just when it is needed the most PCM fails whereas PE does not. From this we conclude that PE is a more reliable measure of competition.
主题	Industrial Organization
关键词	Competition Concentration Measures of competition Price cost margin Profit elasticity Profits
URL	https://cepr.org/publications/dp6288
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/535125
推荐引用方式 GB/T 7714	Patrick Minford,Jiang Wang,David Meenagh. DP6288 Growth and relative living standards - testing Barriers to Riches on post-war panel data. 2007.