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Profits, Variability of Profits and the Prices Justification Tribunal *
Author(s) -
CHAPMAN D. R.,
JUNOR C. W.
Publication year - 1981
Publication title -
economic record
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.365
H-Index - 42
eISSN - 1475-4932
pISSN - 0013-0249
DOI - 10.1111/j.1475-4932.1981.tb01045.x
Subject(s) - tribunal , markup language , sample (material) , economics , business , monetary economics , law , political science , chemistry , computer science , xml , chromatography , operating system
In 1973 the Prices Justification Tribunal was established and given certain powers over the price‐setting practices of large firms in Australia. This paper addresses itself to the impact of that body on firms' markup. Using a large sample of Australian firms observed from 1969 to 1978, this paper establishes evidence that although a statistically significant downward effect on firms' markup can be attributed to the tribunal, in numerical terms the effect has been very small.