Industry structure and the dynamics of price adjustment

Anindya Banerjee, Bill Russell

    Research output: Working paperDiscussion paper

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    Abstract

    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 industry structure is explored for the relative sizes of the impact of inflation on the markup in the long-run for the various sectors.
    Original languageEnglish
    PublisherUniversity of Dundee
    Publication statusPublished - 2000

    Publication series

    NameDundee Discussion Papers in Economics
    PublisherUniversity of Dundee
    No.121
    ISSN (Print)1473-236X

    Keywords

    • Inflation
    • Wages
    • Prices
    • Markup
    • Competition
    • Industry structure

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