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Interpreting markups in Spanish manufacturing: the exponential model

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URI: https://hdl.handle.net/10016/9692
ISSN: 2340-5031
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we1030.pdf (255.53 KB)
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2010-11
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In this paper we attempt to rationalize markups in a sample of Spanish manufacturing by assuming a representative consumer, profit-maximizing firms and constant returns to scale. We find that the standard forms of demand (CES and linear) do not provide a good explanation of markups. In contrast, a model where the representative consumer has an exponential utilty function yields results that match data more closely.
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DE - Working Papers. Economics. WE
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