Markup cyclicality, employment adjustment, and financial constraints

Research English OPEN
Askildsen, Jan Erik; Nilsen, Øivind Anti;
(2001)

We investigate the existence of markups and their cyclical behaviour. Markup is not directly observed. Instead, it is given as a price-cost relation that is estimated from a dynamic model of the firm. The model incorporates potential costly employment adjustments and ta... View more
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