This article estimates returns to scale and monopolistic markups on a large sample of Polish firms in the manufacturing and services sectors during 1996-2004. Methodology based on instrumental variables allows joint estimation of both, scale elasticities as well as markups, while the unobserved...

The aim of this study is to analyse the impact of competition, both internal and external, and of the business cycle on monopolistic markups in the Polish economy. The results show that there are significant markups in several sectors of the economy which complies with earlier estimations by the...

This article presents three estimates of the output gap, one using the production function method, and the other two by assessing the long-term product using cointegration relationships (based on the production function and on the hypothesis of permanent income). It also presents an analysis of...