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dc.contributor.authorBloch, Harry
dc.contributor.authorOlive, Michael
dc.identifier.citationBloch, Harry and Olive, Michael. 2001. Pricing over the cycle. Review of Industrial Organization 19: pp. 99-108.

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.

dc.publisherSpringer Science + Business Media B.V., Formerly Kluwer Academic Publishers B.V.
dc.titlePricing over the cycle
dc.typeJournal Article
dcterms.source.titleReview of Industrial Organization

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curtin.accessStatusFulltext not available
curtin.facultyCurtin Business School
curtin.facultySchool of Economics and Finance

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