Industry structure and the dynamics of price adjustment

Anindya Banerjee, Bill Russell

    Research output: Contribution to journalArticle

    8 Citations (Scopus)

    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
    Pages (from-to)1889-1901
    JournalApplied Economics
    Volume33
    Issue number15
    DOIs
    Publication statusPublished - 2001

    Fingerprint

    Industry structure
    Markup
    Price adjustment
    Inflation
    Gross domestic product
    Long-run relationship

    Keywords

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

    Cite this

    Banerjee, Anindya ; Russell, Bill. / Industry structure and the dynamics of price adjustment. In: Applied Economics. 2001 ; Vol. 33, No. 15. pp. 1889-1901.
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    author = "Anindya Banerjee and Bill Russell",
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    Industry structure and the dynamics of price adjustment. / Banerjee, Anindya; Russell, Bill.

    In: Applied Economics, Vol. 33, No. 15, 2001, p. 1889-1901.

    Research output: Contribution to journalArticle

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    AU - Russell, Bill

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    KW - Wages

    KW - Prices

    KW - Markup

    KW - Competition

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