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Evolution of markups: The case of the Czech Republic
Jurišta, Jakub ; Bajgar, Matěj (advisor) ; Petřík, Theodor (referee)
This thesis aims to state the picture of markups in the Czech Republic. Most of the research has been done in the United States, and many remaining studies have been done globally. However, global studies do not have high-quality data to determine the actual trend in some countries. The main finding is that the mean markup increases over time, where the main drivers of it are the upper percentile firms, which see a significant increase in their markups. Therefore, most firms see no increase in their markups. The trend is also claimed to be within all industries, not between them. We use high-quality data which covers all firms in the Czech Republic. Using the production approach, we estimate markups for 55 869 firms from 74 industries from 2012 to 2020. The goal is to show markups on three different levels and to see if the defined trend corresponds to the Czech one. This thesis is one of the first studies using high-quality data outside the United States, and to have an overview of an actual markup trend in Europe, more studies like this should be done in other countries. JEL Classification D21, D23, L10, L11, L22 Keywords markups, production approach, competition, market power Title Evolution of markups: The case of the Czech Republic Author's e-mail jakub.jurista@gmail.com Supervisor's e-mail...
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