| 来源类型 | Working Paper
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| 规范类型 | 报告
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| DOI | 10.3386/w2799
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| 来源ID | Working Paper 2799
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| Markups in U.S. and Japanese Manufacturing: A Short Run Econometric Analysis |
| Catherine J. Morrison
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| 发表日期 | 1988-12-01
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| 出版年 | 1988
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| 语种 | 英语
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| 摘要 | In this paper a production theory-based model of firms' markup behavior is constructed. The theoretical structure is based on variants of generalized Leontief cost and expenditure functions. This structure yields a full specification of behavior from which the impacts of both supply and demand shocks on firms' markup behavior can be assessed through elasticities. Adjustment costs on both labor and capital and economies of scale are incorporated. Estimation is carried out using manufacturing data for the U.S. and Japan from 1960 through 1981. The empirical results suggest that markups for manufacturing firms in the U.S. and Japan have increased over time, but tend to be procyclical in the U.S. and countercyclical in Japan. This difference stems primarily from differential investment behavior. In addition, capacity utilization and especially returns to scale tend to counteract the short run profit potential from markup behavior, so that markups measured assuming constant returns may be biased downward. Finally, both supply and demand shocks appear to have a significant systematic impact on markups. |
| 主题 | Industrial Organization
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| URL | https://www.nber.org/papers/w2799
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| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/560064
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推荐引用方式
GB/T 7714 |
Catherine J. Morrison. Markups in U.S. and Japanese Manufacturing: A Short Run Econometric Analysis. 1988.
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文件名：
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w2799.pdf
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格式：
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Adobe PDF
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