English, Article, Journal or magazine article edition: ESTIMATING MARKUPS FROM PLANT-LEVEL DATA Sergio Aquino de Souza

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Bookmark: http://trove.nla.gov.au/version/123649
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • ESTIMATING MARKUPS FROM PLANT-LEVEL DATA
Author
  • Sergio Aquino de Souza
Physical Description
  • preprint
Notes
  • This paper investigates the consequences of ignoring price heterogeneity on the estimation of markups using micro-data. I show that ignoring output price heterogeneity yields markup estimates severely biased towards one regardless of competitiveness levels. To do so, I set up an econometric model that assumes monopolistic competition and a CES demand function in a differentiated product market. This model controls for unobserved price heterogeneity and is easy to estimate since OLS is applicable. Using data from Colombian plants, the differentiated product model reveals markup estimates considerably higher than one, rejecting the hypothesis of competitive markets.
  • RePEc:anp:en2005:098
Language
  • English
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