factor prices has a positive effect on markups. We show theoretically that firms with higher shares of inputs with volatile … prices set higher markups. We use the Bartik shift-share approach to empirically test whether firms which use more oil … relative to other inputs set higher markups when oil prices are more volatile. Our estimates imply that a one standard …

profit against uncertainty. This paper estimates the firm-level markups and markup volatility to identify the countervailing … market power and stability. Farmer cooperatives in both sectors gain stability in their markups but their markups are lower …

cross-industry differences in this dimension. Theory suggests several potential factors that might explain this dispersion … lower variability of the number of firms; and (2) these relationships are non-linear as suggested by theory with initial …

cross-industry differences in this dimension. Theory suggests several potential factors that might explain this dispersion … by theory with initial increases in sunk costs or uncertainty having relatively greater effect on firm volatility. The …