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Profiteering and the degree of monopoly in the great recession:recent evidence from the US and the UK


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Branston, J. R., Cowling, K. and Tomlinson, P. R., 2014. Profiteering and the degree of monopoly in the great recession:recent evidence from the US and the UK. Journal of Post Keynesian Economics, 37 (1), pp. 135-162.

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    Abstract

    While the onset of recession may lead some oligopolistic firms to engage in price-cutting behavior, we argue this is likely to be only a temporary phenomenon. As the recession deepens, firms will find themselves with (unplanned) excess capacity, which will increase the mutual benefits of collusion and hence the degree of monopoly is likely to rise. To support this proposition, and adopting a largely heterodox framework, we consider some historical evidence and present some recent data for both U.S. and UK manufacturing and UK retail during the current prolonged slump that has been labeled the “Great Recession.” Such behavior has significant implications for economic recovery.

    Details

    Item Type Articles
    CreatorsBranston, J. R., Cowling, K. and Tomlinson, P. R.
    Related URLs
    URLURL Type
    http://www.mesharpe.com/mall/results1.asp?ACR=pkePublisher
    Uncontrolled Keywordsdegree of monopoly,price cost margin ,economic downturn,collusion ,excess capacity
    DepartmentsSchool of Management
    Research Centres & Institutes > Institute for Policy Research
    Research CentresCentre for Governance and Regulation
    RefereedYes
    StatusPublished
    ID Code41346

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