At the firm level, revenue and costs are well measured but prices and quantities are not. This paper shows that because … often inconsistent with profit maximization or imply implausibly large profits. The puzzle arises because popular estimators … the restrictions imposed by profit maximization (cost minimization) so that estimators are inconsistent or poorly …

estimated. Using the full rainfall distribution and our profit function estimates, we find that Indian farmers on average under … expected profits. Farmers who use skilled forecasts have increased average profit levels but also have more variable profits …

The purpose of this paper is to treat scale economies, profit-maximizing markups, economic profitability, capacity … 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 …

, surprisingly,due more to variations in the cost of capital than to variations in marginal profit. We also find that the present …

This paper examines the impact of unionization on profit- ability, growth and productivity using time series data on … negative union effects on profitability, but growth, productivity and the capital-labor ratio appear to be little affected by … may have longer term implications for efficiency since the impact on profitability appears to fall most heavily on firms …

future spot exchange rates. This result implies that there have been opportunities for speculative profit during the post … existence of opportunities for speculative profit is explored. The question answered in the paper is the following: if there … were no opportunities for speculative profit, would exchange rates have been more stable? The answer is yes. This answer …

will be affordable. In this paper, I present the facts about how much accountability costs. The facts are, fortunately …, highly knowable because costs show up both as expenditures on government budgets and as revenues on companies' (mainly test … makers') accounts. Moreover, it turns out that worrying about measurement error in the cost data is pointless. The costs of …

theory of debt holds: optimal debt equates the marginal tax shield and the marginal expected cost of default. Contrary to … conventional interpretation, but consistent with empirical findings, increases in current or future profitability reduce the … optimal leverage ratio when the tradeoff theory holds …