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Wages, Hires, and Labor Market Concentration
Marinescu, Ioana - 2020
zone in France using linked employer-employee data. Using instrumental variables with worker and firm fixed effects, we …
Persistent link: https://www.econbiz.de/10012482303
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Mergers, Station Entry, and Programming Variety in Radio Broadcasting
Berry, Steven T. - 1999
Free entry into markets with decreasing average costs and differentiated products can result in an inefficient number of firms and suboptimal product variety. Because new firms and products draw their customers in part from existing products, concentration can affect incentives to enter as well...
Persistent link: https://www.econbiz.de/10012471716
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Opposition Media, State Censorship, and Political Accountability : Evidence from Chavez's Venezuela
Knight, Brian - 2019
popular opposition television channel in Venezuela. The government did not renew RCTV's license, and the channel was replaced … overnight, during May 2007, by a pro-government channel. Based upon this censorship of opposition television, we have three key …, but rose on Globovision, the only remaining television channel for opposition viewers. This finding is consistent with a …
Persistent link: https://www.econbiz.de/10012479866
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Free Entry and Social Inefficiency in Radio Broadcasting
Berry, Steven - 1996
In theory, free entry can lead to social inefficiency. When new products are substitutes for existing products, the business stolen from incumbents places a wedge between private and social benefits of entry. The business stealing effect can be offset if entry reduces prices or increases...
Persistent link: https://www.econbiz.de/10012473328
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How Wide is the Scope of Hold-Up-Based Theories? Contractual Form and Market Thickness in Trucking
Hubbard, Thomas N. - 1999
How far do the contractual implications of hold-up-based theories (Klein, Crawford, and Alchian (1978), Williamson (1979, 1985)) extend? I investigate this in the context of trucking. Quasi-rents in trucking are generally smaller than in the contexts studied in the previous empirical literature....
Persistent link: https://www.econbiz.de/10012471437
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Rents and Intangible Capital : A Q+ Framework
Crouzet, Nicolas; Eberly, Janice C. - National Bureau of Economic Research - 2021
In recent years, US investment has been lackluster, despite rising valuations. Key explanations include growing rents and growing intangibles. We propose and estimate a framework to quantify their roles. The gap between valuations -- reflected in average Q -- and investment -- reflected in...
Persistent link: https://www.econbiz.de/10012599278
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A Theory of Falling Growth and Rising Rents
Aghion, Philippe - 2019
Growth has fallen in the U.S., while firm concentration and profits have risen. Meanwhile, labor's share of national income is down, mostly due to the rising market share of low labor share firms. We propose a theory for these trends in which the driving force is falling firm-level costs of...
Persistent link: https://www.econbiz.de/10012480391
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Entry vs. Rents
Baqaee, David - 2020
A tension between entry and rents lies at the core of a general theory of aggregation with scale effects. This paper characterizes the responses of macro aggregates to micro shocks in disaggregated economies with general forms of entry, internal or external returns to scale, input-output...
Persistent link: https://www.econbiz.de/10012481723
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Efficiency Advantages of Grandfathering in Rights-Based Fisheries Management
Anderson, Terry L. - 2010
We show that grandfathering fishing rights to local users or recognizing first possessions is more dynamically efficient than auctions of such rights. It is often argued that auctions allocate rights to the highest-valued users and thereby maximize resource rents. We counter that rents are not...
Persistent link: https://www.econbiz.de/10012462138
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Rent Rigidity, Asymmetric Information, and Volatility Bounds in Labor Markets
Bruegemann, Bjoern - 2007
Recent findings have revived interest in the link between real wage rigidity and employment fluctuations, in the context of frictional labor markets. The standard search and matching model fails to generate substantial labor market fluctuations if wages are set by Nash bargaining, while it can...
Persistent link: https://www.econbiz.de/10012465625