Industry Structure and the Dynamics of Price Adjustment.

Using annual US data for gross domestic product originating by sector between 1947 and 1997 it is shown that a negative long-run relationship between inflation and the markup is present across the sectors as well as in the aggregate. A preliminary explanation based on indutry structure is explored for the relative sizes of the impact of inflation on the markup in the long-run for the various sectors.

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Year of publication:	2000
Authors:	Banerjee, A. ; Russell, B.
Institutions:	Department of Economics, European University Institute
Subject:	INFLATION \| WAGES \| PRICES \| COMPETITION

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Series:	Economics Working Papers.
Type of publication:	Book / Working Paper
Notes:	29 pages
Classification:	C32 - Time-Series Models ; C52 - Model Evaluation and Testing ; E24 - Employment; Unemployment; Wages ; D40 - Market Structure and Pricing. General ; E30 - Prices, Business Fluctuations, and Cycles. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005816415