{"title":"Market concentration and producer prices","authors":"Huzeyfe Torun, Ahmet Duhan Yassa","doi":"10.1016/j.cbrev.2023.100106","DOIUrl":null,"url":null,"abstract":"<div><p>This study investigates the role of sectoral market structure in the inflationary dynamics of the domestic producer prices (D-PPI) in Türkiye. We start by reporting the fact that industries with intense competition had lower producer price inflation compared to industries with low-competition in the past few years. Further investigation shows that this differentiation across industries corresponds to the years with higher exchange rate volatility. The industries characterized with low-competition have higher annual producer price inflation on average than those that are characterized with high-competition especially during the periods of high exchange rate volatility. Results are robust to a wide set of additional specifications and cast light on the role of market structure on firms’ pricing behavior in Türkiye.</p></div>","PeriodicalId":43998,"journal":{"name":"Central Bank Review","volume":"23 1","pages":"Article 100106"},"PeriodicalIF":2.0000,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Central Bank Review","FirstCategoryId":"1085","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S130307012300001X","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
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Abstract
This study investigates the role of sectoral market structure in the inflationary dynamics of the domestic producer prices (D-PPI) in Türkiye. We start by reporting the fact that industries with intense competition had lower producer price inflation compared to industries with low-competition in the past few years. Further investigation shows that this differentiation across industries corresponds to the years with higher exchange rate volatility. The industries characterized with low-competition have higher annual producer price inflation on average than those that are characterized with high-competition especially during the periods of high exchange rate volatility. Results are robust to a wide set of additional specifications and cast light on the role of market structure on firms’ pricing behavior in Türkiye.
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