Asker, John; Collard-Wexler, Allan; De Loecker, Jan - 2017
This paper estimates the extent to which market power is a source of production misallocation. Productive inefficiency …, from 1970 to 2014, to quantify the extent of productive misallocation attributable to market power exerted by the OPEC. We … find substantial productive inefficiency attributable to market power, ranging from 14.1 percent to 21.9 percent of the …