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Abstract
An I(2) analysis of inflation and the markup is undertaken for the G7 economies and Australia. We find that the levels of prices and costs are best described as I(2) processes and that except for Japan a linear combination of the log levels of prices and costs cointegrate to the markup that is integrated of order 1. It is also shown that the markup in each case co-integrates with inflation and that higher inflation is associated with a lower markup in the long run.
| Original language | English |
|---|---|
| Pages (from-to) | 377 |
| Number of pages | 384 |
| Journal | Review of Economics and Statistics |
| Volume | 83 |
| Issue number | 2 |
| DOIs | |
| Publication status | Published - 2001 |
Keywords
- Inflation
- Wages
- Prices
- Markup
- I(2)
- Polynomial cointegration
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Dive into the research topics of 'The relationship between the markup and inflation in the G7 economies and Australia'. Together they form a unique fingerprint.Research output
- 1 Discussion paper
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Dundee Discussion Papers in Economics 119: The relationship between the markup and inflation in the G7 economies and Australia
Banerjee, A. & Russell, B., 2000, University of Dundee, (Dundee Discussion Papers in Economics; no. 119).Research output: Working paper/Preprint › Discussion paper
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