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- W1983205890 abstract "This paper empirically tests two industrial-organization models with a sample of 182 U.S. industries, from to 1963 to 1967. The models extend standard models and integrate them with dynamics associated with the persistence of profits methodologies. We extend it by replacing the traditional cross-section profit equation with a profit-adjustment equation for U.S. industrial data. Our study measures the speed of adjustment of profits and explicitly models steady-state profits, in addition to the speed of structural adjustment and steady-state market structure. We find that the structural-adjustment speed is slower than the profit-adjustment speed and that nonzero economic profits tend to be quite persistent" @default.
- W1983205890 created "2016-06-24" @default.
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- W1983205890 date "2000-06-01" @default.
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- W1983205890 title "Methodological Extensions of First-Order Adjustment Models: An Application to U.S. Industries*" @default.
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- W1983205890 doi "https://doi.org/10.1080/10168730000000020" @default.
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