Maliranta, Mika - Elinkeinoelämän Tutkimuslaitos (ETLA) - 2008
The use of traditional industry-level profitability indicators for assessing the state of competition is problematic … for two reasons. First, short-term variation reflects business cycles more than it does the impact of competition policy …. Second, rough industry-level indicators hide different mechanisms that are dependent on competition but may affect …