Bottasso, Anna; Galeotti, Marzio; Sembenelli, Alessandro - Istituto di Ricerca sulla Crescita Economica … - 1997
In this paper we look at both the theoretical and empirical behavior of price-cost margins when capital market imperfections affect firms’ markup policies. We present a model of a firm operating in an industry with differentiated products and facing imperfect markets for financing operations....