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Measuring the Magnitude of Significant Market Power in the Manufacturing and Services Industries: A Cross Country Approach

Michael Polemis () and Panagiotis Fotis ()

MPRA Paper from University Library of Munich, Germany

Abstract: This paper provides estimates of price-marginal cost ratios for manufacturing and services sectors in the Eurozone, the US and Japan over the period 1970-2007. The estimates are obtained applying τhe methodology developed by Hall (1988) and extended by Roeger (1995) on the EU KLEMS March 2011 database. The major stylized facts that are emerged from the empirical results based on the Ordinary Least Squares, Two Step Least Squares and Bootstrap methods of estimation are a) there is no evidence of imperfect competition across the majority of industries in Eurozone, US and Japan, b) sectors that are more open to internationalisation, experience relatively lower mark up ratios than the ratios experienced in less open sectors to internationalisation and c) deregulated industries generally have lower mark – up ratios than regulated industries, while fragmented industries generally exhibit higher mark – up ratios than segmented ones.

Keywords: Mark up Ratio; US; Eurozone; Japan; Manufacturing; Services. (search for similar items in EconPapers)
JEL-codes: D43 L13 L16 L60 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-com and nep-ind
Date: 2015-02-05
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Related works:
Journal Article: Measuring the Magnitude of Significant Market Power in the Manufacturing and Services Industries: A Cross Country Approach (2016) Downloads
Journal Article: Measuring the Magnitude of Significant Market Power in the Manufacturing and Services Industries: A Cross Country Approach (2016) Downloads
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