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    Pricing over the cycle

    Access Status
    Fulltext not available
    Authors
    Bloch, Harry
    Olive, Michael
    Date
    2001
    Type
    Journal Article
    
    Metadata
    Show full item record
    Citation
    Bloch, Harry and Olive, Michael. 2001. Pricing over the cycle. Review of Industrial Organization 19: pp. 99-108.
    Source Title
    Review of Industrial Organization
    DOI
    10.1023/A:1011148618698
    ISSN
    0889938X
    Faculty
    Curtin Business School
    School of Economics and Finance
    Remarks

    The original publication is available at : www.springerlink.com

    URI
    http://hdl.handle.net/20.500.11937/14824
    Collection
    • Curtin Research Publications
    Abstract

    In recent studies, the cyclical behavior of markups is examined, but the role of costs in determining markups is ignored. Here, a pricing equation is estimated that implicitly measures the rate of change in markup as a function of aggregate demand growth, aggregate inflation and industry cost inflation. Results for 21 two-digit SIC industries in the U.S. over 1948 to 1979 show incomplete pass-through from cost into price, implying a negative relationship between cost and the markup. Aggregate inflation positively influences prices and markups. Aggregate demand negatively influences prices and markups in highly concentrated industries, but not otherwise.

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