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dc.contributor.authorBANERJEE, Anindya
dc.contributor.authorCOCKERELL, Lynne
dc.contributor.authorRUSSELL, Bill
dc.date.accessioned2011-04-20T14:03:31Z
dc.date.available2011-04-20T14:03:31Z
dc.date.issued2001
dc.identifier.citationJournal of Applied Econometrics, 2001, 16, 3, 221-240
dc.identifier.issn0883-7252
dc.identifier.urihttps://hdl.handle.net/1814/16749
dc.description.abstractAn I(2) analysis of Australian inflation and the markup is undertaken within an imperfect competition model. It is found that the levels of prices and costs are best characterized as integrated of order 2 and that a linear combination of the levels (which may be defined as the markup) cointegrates with price inflation. From the empirical analysis we obtain a long-run relationship where higher inflation is associated with a lower markup and vice versa. The impact in the long run of inflation on the markup is interpreted as the cost to firms of overcoming missing information when adjusting prices in an inflationary environment. Copyright (C) 2001 John Wiley & Sons, Ltd.
dc.relation.isbasedonhttp://hdl.handle.net/1814/671
dc.titleAn I(2) Analysis of Inflation and the Markup
dc.typeArticle
dc.identifier.doi10.1002/jae.609
dc.neeo.contributorBANERJEE|Anindya|aut|
dc.neeo.contributorCOCKERELL|L|aut|
dc.neeo.contributorRUSSELL|Bill|aut|
dc.identifier.volume16
dc.identifier.startpage221
dc.identifier.endpage240
eui.subscribe.skiptrue
dc.identifier.issue3
dc.description.versionThe article is a published version of EUI ECO WP; 1998/26


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