Pricing behavior in United States manufacturing industries: A statistical study using disaggregated data |
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| Authors: | Elizabeth M Caucutt Mrinal Ghosh Christina M L Kelton |
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| Institution: | 1. Department of Economics, University of Minnesota, 55455, Minneapolis, MN, USA
2. Department of Marketing and Logistics Management, Carlson School of Management, University of Minnesota, 271 19th Avenue S., Room 1235 Management and Economics Building, 55455, Minneapolis, MN, USA
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| Abstract: | We investigate the relationship between industrial market structure and price flexibility (the administered-pricing hypothesis) across United States manufacturing industries by embedding market-structure variables in a model relating relative price variability (dispersion) and inflation. While we find support for a positive relationship between variability and inflation, we do not find that high seller concentration lessens the impact of inflation on price variability. We do find that the larger the efficient-sized plant, the lower the impact of inflation on variability. We also find strong effects of input prices and degree of product durability on relative price variability. |
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