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Industry structure and the dynamics of price adjustment
2001
Applied Economics
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Using annual US data for gross domestic product originating by sector between 1947 and 1997 it is shown that a negative long-run relationship between inflation and the markup is present across the sectors as well as in the aggregate. A preliminary explanation based on industry structure is explored for the relative sizes of the impact of inflation on the markup in the long-run for the various sectors.
doi:10.1080/00036840010021131
fatcat:epchfffglvasxfgrwg2kdtcuhe