shares in equation (1)). These estimates depart from the preferred estimates employing
value-added estimates in consistent ways. Although elasticities are generally higher
in the alternative specification, estimates of pass-through rates are consistently lower.
The alternative estimates are not preferred on statistical grounds. The table reports
F-statistics of the joint hypothesis that the coefficients in the regression models are
equal to zero, along with p-values in parentheses. The alternative specification has