Markup, returns to scale, the business cycle and openess

evidence from Australian manufacturing

Michael Olive

Research output: Contribution to journalArticle

2 Citations (Scopus)


This paper aims to measure markup and returns to scale for eight Australian manufacturing industries, for the period 1971-72 to 1984-85, and to explore the relationship between markup, the business cycle and openness to the international economy in this period. A Hall type model is used for this purpose, where allowance is made for non-stochastic time variation in the contribution of technical change to output growth and intermediate materials are included in the production function.
Original languageEnglish
Pages (from-to)44-58
Number of pages15
JournalEconomic Papers
Issue number1
Publication statusPublished - 2004


  • business cycle
  • manufacturing
  • markup
  • openness

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