Published in:National Bank of Poland Working Paper ; No. 121
Extent:
1 Online-Ressource (38 p)
Language:
English
DOI:
10.2139/ssrn.2109410
Identifier:
Origination:
Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 2, 2012 erstellt
Description:
Estimates of monopolistic markups are relatively scarce in the literature mostly due to lack of appropriate data and methodological difficulties, while their behaviour has important implications for the conduct of monetary policy. We estimate the monopolistic markups in the Polish economy in the period of 1995-2009 using Polish firm level data. We show the association of the markup level with the sectoral characteristics, type of good produced and the form of ownership, as well as investigate the impact of both internationalization and competitive pressure on the level of markups. We show a somewhat puzzling and at the same time robust increase in markups after the EU accession of the Polish economy to the EU in 2004. Moreover, in line with previous findings, we show that price cost margins are countercyclical with respect to the macroeconomic cycle and procyclical at sectoral level