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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/18820
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| Title: | | Cross-country relative price volatility : effects of market structure  |
| Authors: | | Cheung, Yin-Wong Fujii, Eiji |
| Issue Date: | | 2005 |
| Series/Report no.: | | CESifo working papers 1456 |
| Abstract: | | Using annual data on nine manufacturing sectors of eighteen OECD countries, the article studies the implications of market structure for cross-country relative price variability. It is found that, in accordance with predictions from a standard markup pricing model, reductions in market competition, along with increased nominal exchange rate volatility, are associated with greater variability of cross-country relative prices. The market structure also has similar effects on components of cross-country relative price variability. The empirical findings are robust to the inclusion of various control variables and alternative sample specifications. |
| Subjects: | | relative price volatility market structure price-cost margin variance decomposition |
| JEL: | | F31 F41 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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