초록 열기/닫기 버튼


The supergame theoretical predictions tell that oligopoly pricing may be procyclical or countercyclical. Industry by industry analysis shows that the speed of industry growth and the size of fixed cost are crucial in distinguishing characteristically countercyclical industries from procyclical industries. Countercyclical industries are characterized by high growth of demand and low fixed costs. Procyclical industries are characterized by low growth of demand and high fixed costs.


키워드열기/닫기 버튼

procyclical industries, countercyclical industries, price-cost margin, growth rate of demand, fixed cost.JEL: C72, L11, L60