The Cyclical Behaviour of Manufacturing Prices in a Small Open Economy
研究了比利时制造业中成本加成率的周期性，发现其较低，反映价格制定者不愿根据不确定的市场信号调整价格，尤其是出口商。
This paper presents a disaggregated regression study of the cyclicality of the mark-up over costs in Belgian manufacturing industry. This is found to be low, reflecting a great reluctance on the part. of price setters to adjust prices to uncertain market signals. This appears to be especially the case for exporters when compared with firms active on the domestic market. Exporters face greater uncertainty because their competitors are less well-known, and their market shares tend to be smaller, implying a higher variance of industry sales estimates.