MARKET-STRUCTURE AND CYCLICAL FLUCTUATIONS IN UNITED-STATES MANUFACTURING - COMMENT

Authors
KAMERSCHEN DR PARK JH
Citation
Dr. Kamerschen et Jh. Park, MARKET-STRUCTURE AND CYCLICAL FLUCTUATIONS IN UNITED-STATES MANUFACTURING - COMMENT, Review of economics and statistics, 75(4), 1993, pp. 732-734
Citations number
10
Categorie Soggetti
Social Sciences, Mathematical Methods",Economics
Journal title
Review of economics and statistics → ACNP
ISSN journal
00346535
Volume
75
Issue
4
Year of publication
1993
Pages
732 - 734
Database
ISI
SICI code
0034-6535(1993)75:4<732:MACFIU>2.0.ZU;2-Z
Abstract
Domowitz, Hubbard, and Peterson (DHP, 1988) estimate industry markups of price over marginal cost and show the influence of market structure on cyclical movements in total factor productivity, using a disaggreg ate panel data set of 284 four-digit, Standard Industrial Classificati on, industries. In this comment we examine whether DHP really estimate what they intend to estimate. DHP also claim their ''estimates are no t as large as those of Hall'' (p. 56). If it is not clear what they es timate, the comparison is of limited usefulness. Nevertheless, the DHP study deserves consideration and contemplation by anyone interested i n industrial economics.