Estimating the mark-up over marginal cost: A panel analysis of Japanese firms 1971-1994

International Journal of Industrial Organization

Volumn 17, Issue 8, 1999, Pages 1077-1111

  Nishimura, Kiyohiko G ^a   Ohkusa, Yasushi ^b   Ariga, Kenn ^c  

^a UNIVERSITY OF TOKYO   (Japan)

^b Osaka Prefecture University   (Japan)

^c KYOTO UNIVERSITY   (Japan)

Author keywords

Factor shares; Japanese firms; L10; L11; L13; L16; L60; L70; L80; L90; Marginal cost; Mark up rate

Indexed keywords

EID: 0033444180     PISSN: 01677187     EISSN: None     Source Type: Journal    
DOI: 10.1016/s0167-7187(98)00011-3     Document Type: Article

References (29)

1. Ariga, K., Ohkusa, Y., 1994. Procyclical markups in Japan. Mimeo, Kyoto Institute of Economic Research, Kyoto University.
2. Baily M.N., Hulten C., Campbell D. Productivity dynamics in manufacturing plants. Brookings Papers on Economic Activity, Microeconomics. 1:1992;187-267.
3. Baba, N., 1995. On the determinants of home-abroad price differences. Kinyu Kenkyu 14, 71-97 (in Japanese).
4. Basu S. Procyclical productivity: increasing returns or cyclical utilization? Quarterly Journal of Economics. 111:1996;719-751.
5. Bils M. Pricing in a customer market. Quarterly Journal of Economics. 104:1987;699-718.
6. Bresnahan, T., 1989. Empirical studies of industries with market power. In: Schmalensee, R., Willig, R.D. (Eds.), Handbook of Industrial Economics, vol. 2. North-Holland, Amsterdam, pp. 1012-1057.
7. Burnside, C., Rebello, S., 1995. Capital utilization and returns to scale. NBER Economics Annual, 67-124.
8. Caves, R.E., 1989. International differences in industrial organization. In: Schmalensee, R., Willig, R.D. (Eds.), Handbook of Industrial Economics, vol. 2. North-Holland, Amsterdam, pp. 1225-1250.
9. Chevalier J.A., Scharfstein D.S. Liquidity constraints and the cyclical behavior of markups. American Economic Review. 85:1995;390-396.
10. Domovitz I., Hubbard R.G., Petersen B.C. Market structure and cyclical fluctuations in US manufacturing. Review of Economics and Statistics. 67:1988;55-66.
11. Gottfries N. Customer markets, credit market imperfection, and real price rigidity. Economica. 58:1991;317-323.
12. Godfrey, L.G., 1988. Misspecification Tests in Econometrics. Cambridge University Press, Cambridge.
13. Green E.J., Porter R.H. Non-cooperative collusion under imperfect price information. Econometrica. 52:1984;87-100.
14. Haskel J., Christpher M., Small I. Price, marginal cost, and the business cycle. Oxford Bulletin of Economics and Statistics. 57:1995;25-41.
15. Hall, R., 1988. Invariance properties of Solow's productivity residual. In: Diamond, P. (Ed.), Growth/Productivity/Unemployment. MIT Press, Cambridge, pp. 71-112.
16. Kuroda, M., Jorgenson, D.W., 1995. Productivity and international competitiveness in Japan and the United States, 1960-1985. In: Jorgenson, D.W. (Ed.), Productivity, Volume 2: International Comparisons of Economic Growth. MIT Press, Cambridge, pp. 387-417.
17. Martin S. The measurement of profitability and diagnosis of market power. International Journal of Industrial Organization. 6:1988;301-321.
18. Morrison C.J. Unravelling the productivity slowdown in the US, Canada, and Japan: the effects of subequilibrium, scale economies and markups. Review of Economics and Statistics. 74:1992;381-393.
19. Neumann, M., Haid, A., 1985. Concentration and economic performance: a cross-section analysis of West German industries. In: Schwalbach, J. (Ed.), Industry Structure and Performance. Edition Sigma Rainer Bohn Verlag, Berlin.
20. Nishimura K.G. Customer markets and price sensitivity. Economica. 56:1989;187-196.
21. Nishimura, K.G., Inoue, A., 1998. Labour's share in Japanese manufacturing 1960-1990: 'Dual structure' and imperfect competition. In: Ishikawa, T. (Ed.), The Distribution of Income and Wealth in Japan. Oxford University Press, Oxford, forthcoming.
22. Odagiri, H., Yamashita, T., 1987. Price mark-ups, market structure, and business fluctuations in Japanese manufacturing industries. Journal of Industrial Economics, 35, 317-331.
23. Penrose, E.T., 1959. The Theory of the Growth of the Firm. Blackwell, Oxford.
24. Rotemberg J.J., Saloner G. A supergame theoretic model of price wars during booms. American Economic Review. 76:1986;390-407.
25. Rotemberg, J.J., Woodford, M., 1991. Markups and the business cycle. NBER Macroeconomics Annual, pp. 63-129.
26. Schmalensee, R., 1989. Inter-industry studies of structure and performance. In: Schmalensee, R., Willig, R.D. (Eds.), Handbook of Industrial Economics, vol. 2. North-Holland, Amsterdam, pp. 951-1009.
27. Shinjo K. Business pricing policies and inflation: the Japanese case. Review of Economics and Statistics. 59:1977;447-455.
28. Sherer, F.M., Beckenstein, A., Kaufer, E., Murphy, R.D., 1975. The Economics of Multi-Plant Operations. Harvard University Press, Cambridge.
29. Womack, J.P., Jones, D.T., Roos, D., 1991. The Machine That Changed the World: The Story of Lean Production. Harper Collins, New York.