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Revue de l'OFCE

2006/5 (no 97 bis)


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Article précédent Pages 303 - 318 Article suivant

Résumé

English

This paper estimates the dynamics of price cost margins in UK manufacturing over the period 1989-1997 and links it to the implementation of the Single Market Program. Using the Hall-Roeger methodology, we find a dramatic decline in price cost margins by 25% after 1990. This suggests that firms anticipated the competitive shock induced by the Single Market Program, which created a more competitive environment.
JEL Classification: F1, L1, L6.

Keywords

  • single market program
  • price cost margins
  • UK
  • firm-level data

Plan de l'article

  1. 1 - Introduction
  2. 2 - Methodology
    1. 2.1 - Seminal work (Hall, 1986, 1988; Domowitz et al., 1988)
    2. 2.2 - Coping with endogeneity and time varying parameters
  3. 3 - Dataset
  4. 4 - Results
    1. 4.1 - The dynamics of average price cost margins
    2. 4.2 - Price cost margins by industry
    3. 4.3 - Cyclicality and SMP effect
  5. 5 - Discussion and Conclusion

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