Fix- or flex-price behavior?: evidence from the Malaysian manufacturing sector

Mohd Yusof Saari and A.R. Zakariah
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A.R. Zakariah: Universiti Putra Malaysia

Philippine Review of Economics, 2007, vol. 44, issue 2, 111-124

Abstract: Industries can be classified into fix-price and flex-price sectors according to their pricing behavior. Although Hicks [1985] and Morishima [1984] have broadly classified manufacturing industries into fix-price and the rest of the economy into flex-price, using the cost-based input-output model, the present paper reclassifies the Malaysian manufacturing industries into fix-price and flex-price categories. By compiling annual sectoral price indices, both for intermediate and primary inputs, the paper found that most of the flex-price manufacturing industries are from non-agro-based industries whereas most of the fix-price industries are from agro-based industries.

Keywords: input-output; fix price; flex price; residual profits (search for similar items in EconPapers)
JEL-codes: D4 (search for similar items in EconPapers)
Date: 2007
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