| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w3396 |
| 来源ID | Working Paper 3396 |
| Interdependent Pricing and Markup Behavior: An Empirical Analysis of GM, Ford and Chrysler | |
| Ernst R. Berndt; Ann F. Friedlaender; Judy Shaw-Er Wang Chiang | |
| 发表日期 | 1990-06-01 |
| 出版年 | 1990 |
| 语种 | 英语 |
| 摘要 | Our purpose in this paper is to develop and estimate a model of the US automobile industry that can be used to analyze the secular and cyclical strategic markup behavior and market structure of its three major domestic producers - - GM, Ford and Chrysler. The principal novelty in this paper is not such much in the underlying theory (we build on what Timothy Bresnahan has called the "new empirical industrial organization" literature), but rather in the actual empirical implementation of a multi-equation model sufficiently general to permit the testing of a variety of specific behavioral postulates associated with the interdependent strategic profit-maximizing behavior of GM, Ford and Chrysler. Using firm-specific annual data from 1959-83, we find that at usual levels of statistical significance, we cannot reject Cournot quantity-setting behavior, nor can we reject leader/follower quantity-setting behavior with GM as leader and Ford and Chrysler as followers; the parameter restrictions associated with leader/follower behavior are slightly more binding than those with Cournot, although the difference is not decisive. In terms of the cyclical analysis of market behavior, our most striking result is the great diversity of behavior we find among GM, Ford and Chrysler. Depending on which firm is being analyzed, there is support for the pro-cyclical "conventional wisdom" of markups (GM and Ford), as well as for the counter-cyclical "revisionist" literature (Chrysler). Diversity, rather than constancy and homogeneity, best characterizes firms in this industry. |
| 主题 | Industrial Organization |
| URL | https://www.nber.org/papers/w3396 |
| 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/560685 |
| 推荐引用方式 GB/T 7714 | Ernst R. Berndt,Ann F. Friedlaender,Judy Shaw-Er Wang Chiang. Interdependent Pricing and Markup Behavior: An Empirical Analysis of GM, Ford and Chrysler. 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 | ||
| w3396.pdf（445KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 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。
