Industry mark-ups and structures : the role of macroeconomic and financial structures
Citation:
Olivia Anne Mollen, 'Industry mark-ups and structures : the role of macroeconomic and financial structures', [thesis], Trinity College (Dublin, Ireland). Department of Economics, 2008, pp 276Download Item:
Abstract:
This thesis is an empirical analysis of how macroeconomic and financial structures
influence the performance and structure of industries, specifically manufacturing
industries. It comprises of four chapters and follows a between- and
within-industry analysis with the first two and latter two chapters being linked.
The first chapter is a between-industry analysis of the manufacturing sectors
of the U.S. and six European Union (EU-6) countries. We estimate the pricecost
margins for both geographical regions and find the existence of imperfect
competition in all manufacturing industries. The margins in the U.S. are generally
greater than those in the EU-6. We also investigate the cyclicality of these
margins and the results show that margins in the U.S. behave pro-cyclically
whereas they behave counter-cyclically in the EU-6. A suggestion put forward
for this is that strong union power in the EU forces wage rate increases above
price increases during economic expansions but their lack of influence in the
U.S. allows industries to maintain higher mark-ups.
Author: Mollen, Olivia Anne
Advisor:
Walsh, PaulQualification name:
Doctor of Philosophy (Ph.D.)Publisher:
Trinity College (Dublin, Ireland). Department of EconomicsNote:
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Full text availableKeywords:
Economics, Ph.D., Ph.D. Trinity College DublinMetadata
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