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Estimating markups has a long tradition in industrial organization and international trade. Economists and policy … by markups. The empirical methods that were developed in empirical industrial organization often rely on the availability … detailed data, but still need an assessment of whether changes in the operating environment of firms had an impact on markups …
Persistent link: https://www.econbiz.de/10008528532
milks. Based on calculated Lerner indexes, private label milks have the highest percent markups despite their lower prices …, while specialty milks have the lowest markups despite their higher prices, which attests to a greater degree of market power …
Persistent link: https://www.econbiz.de/10005059123
(1995). Empirical results show that private label milks have the highest markups in spite of lower prices, which may explain …
Persistent link: https://www.econbiz.de/10010816311
Researchers typically invoke theoretical assumptions to estimate mark-ups. Instead, we directly obtain mark-ups by … surveying Pakistani soccer-ball producers. We document six facts: (1) Mark-ups are more dispersed than costs; (2) Mark-ups and … increase with size because larger firms use higher-quality inputs; (5) Larger firms charge higher mark-ups because they have …
Persistent link: https://www.econbiz.de/10011145410
The treatment of capital costs, as either fixed or variable is a key for estimating markups. Data leans clearly towards … fixity, which explains the high markups emphasized in previous studies based on Roeger's methodology. Direct estimation from …
Persistent link: https://www.econbiz.de/10005510636
contributions in the literature, we obtain exogenous credit supply shifters and markups that are both firm specific and time varying …. We uncover new findings at this level. In particular, firms more exposed to liquidity risks tend to raise markups in … firms have an incentive to raise markups in order to sustain liquidity. Our results have important economic implications …
Persistent link: https://www.econbiz.de/10012792812
Using a general-equilibrium simulation model featuring nominal rigidities and monopolistic competition in product and labor markets, this paper estimates the macroeconomic benefits and international spillovers of an increase in competition. After calibrating the model to the euro area vs. the...
Persistent link: https://www.econbiz.de/10011604387
We develop and estimate a stylized micro-founded model of the US economy. Next we compute the parameters of a simple interest rate policy rule that maximizes the unconditional mean of utility. We show that such a welfare-based rule lies close to the Taylor efficiency frontier. A counterfactual...
Persistent link: https://www.econbiz.de/10011604659
As is well known, one of the major shortcomings of the New Keynesian model (NKM) with Calvo-type price setting is the lack of a microeconomic foundation of its most important building block - price stickiness. In this paper I investigate the ability of a monetary Customer Markets model to...
Persistent link: https://www.econbiz.de/10010270130
We estimate the macroeconomic benefits and international spillovers of an increase in competition using a general-equilibrium simulation model with nominal rigidities and monopolistic competition in product and labor markets. We draw three conclusions after calibrating the model to the euro area...
Persistent link: https://www.econbiz.de/10010283416