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- W3154276632 abstract "This article provides evidence on the relation among financial constraints, competition, and the cyclicality of markups. Based on a long series of industry data from a large number of countries, we find that markups increase in conjunction with the business cycle in environments with higher short-term financial constraints (liquidity constraints) and more competition. The evidence also suggests that these two elements complement each other: the procyclicality of markups in firms facing both high competition and high liquidity constraints is higher than that explained by each determinant independently." @default.
- W3154276632 created "2021-04-26" @default.
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- W3154276632 date "2016-06-01" @default.
- W3154276632 modified "2023-09-23" @default.
- W3154276632 title "Financial Constraints, Competition, and Markup Cyclicality" @default.
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