Journal Article A Theory of Conglomerate Mergers: Comment Get access David R. Kamerschen David R. Kamerschen University of Missouri — Columbus Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 84, Issue 4, November 1970, Pages 668–673, https://doi.org/10.2307/1880848 Published: 01 November 1970

R. Ian Domowitz, Glenn Hubbard, and Bruce C. Peterson (1988) estimate industry markups of price over marginal cost and show the influence of market structure on cyclical movements in total factor productivity, using a disaggregate panel data set of 284 four-digit, Standard Industrial Classification industries. In this comment, the authors examine whether Domowitz, Hubbard, and Peterson really estimate what they intend to estimate. Domowitz, Hubbard, and Peterson also claim their 'estimates are not as large as those of Hall.' If it is not clear what they estimate, the comparison is of limited usefulness. Nevertheless, the Domowitz, Hubbard, and Peterson study deserves consideration and contemplation by anyone interested in industrial economics.