G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w3355
来源IDWorking Paper 3355
Market Power, Economic Profitability and Productivity Growth Measurement: An Integrated Structural Approach
Catherine J. Morrison
发表日期1990-05-01
出版年1990
语种英语
摘要The purpose of this paper is to treat scale economies, profit-maximizing markups, economic profitability, capacity utilization and productivity growth within an integrated structural model, and to assess their interactions empirically using annual two-digit U.S. manufacturing data. Attention is focused on error biases in measuring productivity using traditional accounting procedures. An important conjecture by Robert Hall, that the coexistence of normal economic profits and positive markups of price over marginal cost imply the existence of substantial scale economies and excess capacity, is then examined using this structure. The empirical results suggest that markups in most U.S. manufacturing firms have increased over time, and tend to the countercyclical. However, procyclical capacity utilization and scale economies tend to offset the short run profit potential from markup behavior. As a result, on average economic profits are normal, but declining profitability is prevalent in most industries since the early 1970s. Also, although cost and revenue shares tend to be approximately equal, the error biases in standard productivity growth measures resulting from input fixity and scale economies are substantial, particularly over business cycles.
主题Industrial Organization
URLhttps://www.nber.org/papers/w3355
来源智库National Bureau of Economic Research (United States)
引用统计
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/560644
推荐引用方式
GB/T 7714
Catherine J. Morrison. Market Power, Economic Profitability and Productivity Growth Measurement: An Integrated Structural Approach. 1990.
条目包含的文件
文件名称/大小 资源类型 版本类型 开放类型 使用许可
w3355.pdf(457KB)智库出版物 限制开放CC BY-NC-SA浏览
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Catherine J. Morrison]的文章
百度学术
百度学术中相似的文章
[Catherine J. Morrison]的文章
必应学术
必应学术中相似的文章
[Catherine J. Morrison]的文章
相关权益政策
暂无数据
收藏/分享
文件名: w3355.pdf
格式: Adobe PDF
此文件暂不支持浏览

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。