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Autor:innen: 
Erscheinungsjahr: 
2004
Schriftenreihe/Nr.: 
KOF Working Papers No. 86
Verlag: 
ETH Zurich, KOF Swiss Economic Institute, Zurich
Zusammenfassung: 
We investigate how firms' market power affects the price level. In our small macro-model we show, that firms - in addition to hypothesised structural mark-up pricing power - may take advantage of favourable business cycle fluctuations. The paper provides empirical evidence for both these propositions to hold. To show this, we estimate the model in a multivariate time series framework with double integrated variables. We can derive a model based business cycle indicator which compares very well with exogenous survey data information.
Schlagwörter: 
mark-up pricing
monopolistic competition
business cycle indicators
I(2) cointegration
multivariate time series analysis
JEL: 
C32
D40
E31
E32
Dokumentart: 
Working Paper

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