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Inflation and the Mark-Up in UK Manufacturing Industry

Ioannis A Kaskarelis

Oxford Bulletin of Economics and Statistics, 1993, vol. 55, issue 4, 391-407

Abstract: This paper attempts to investigate the empirical validity of the argument that one of the most important welfare effects of inflation is its impact on market power, which many recent New-Keynesian theoretical models of imperfect competition seem to support. Estimates on U.K. manufacturing data for the period 1956-91, presented here, are consistent with this conclusion. Copyright 1993 by Blackwell Publishing Ltd

Date: 1993
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