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Efficiencies Brewed : Pricing and Consolidation in the U.S. Beer Industry
Ashenfelter, Orley C. - 2013
Merger efficiencies provide the primary justification for why mergers of competitors may benefit consumers. Surprisingly, there is little evidence that efficiencies can offset incentives to raise prices following mergers. We estimate the effects of increased concentration and efficiencies on...
Persistent link: https://www.econbiz.de/10012459308
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Estimating Discrete Games with Many Firms and Many Decisions : An Application to Merger and Product Variety
Fan, Ying; Yang, Chenyu - National Bureau of Economic Research - 2022
method to study merger effects on firm entry and product variety in the retail craft beer market in California. We simulate … an acquisition of multiple craft breweries by a large brewery and find that the acquisition would induce firm entry and …
Persistent link: https://www.econbiz.de/10013334365
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Millennials and the Take-Off of Craft Brands : Preference Formation in the U.S. Beer Industry
Bronnenberg, Bart J.; Dube, Jean-Pierre H.; Joo, Joonhwi - National Bureau of Economic Research - 2021
We conduct an empirical case study of the U.S. beer industry to analyze the disruptive effects of locally … generation of adult Millennial consumers. We document a generational share gap: Millennials buy more craft beer than earlier … Baby Boomers, with the remainder explained by intrinsic generational differences in preferences. We predict the beer market …
Persistent link: https://www.econbiz.de/10012496172
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Dynamic Oligopoly Pricing with Asymmetric Information : Implications for Horizontal Mergers
Sweeting, Andrew; Tao, Xuezhen; Yao, Xinlu - National Bureau of Economic Research - 2021
are restricted to lie in narrow ranges. We calibrate our model using data from the beer industry, and we show that our …
Persistent link: https://www.econbiz.de/10012496143
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Estimating market power Evidence from the US Brewing Industry
De Loecker, Jan - 2016
While inferring markups from demand data is common practice, estimation relies on difficult-to-test assumptions, including a specific model of how firms compete. Alternatively, markups can be inferred from production data, again relying on a set of difficult-to-test assumptions, but a wholly...
Persistent link: https://www.econbiz.de/10012455723
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Learning by doing in markets, firms, and countries
Lamoreaux, Naomi R. (ed.); Raff, Daniel M. G. (contributor);  … - 1999
Persistent link: https://www.econbiz.de/10000663281
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Organizational Frictions and Increasing Returns to Automation : Lessons from AT&T in the Twentieth Century
Feigenbaum, James J.; Gross, Daniel P. - National Bureau of Economic Research - 2021
AT&T was the largest U.S. firm for most of the 20th century. Telephone operators once comprised over 50% of its workforce, but in the late 1910s it initiated a decades-long process of automating telephone operation with mechanical call switching--a technology first invented in the 1880s. We...
Persistent link: https://www.econbiz.de/10012794608
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Is the U.S. public corporation in trouble?
Kahle, Kathleen - 2016
We examine the current state of the U.S. public corporation and how it has evolved over the last 40 years. After falling by 50 percent since its peak in 1997, the number of public corporations is now smaller than 40 years ago. These corporations are now much larger and over the last twenty years...
Persistent link: https://www.econbiz.de/10012455823
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Federal Reserve Structure and the Production of Monetary Policy Ideas
Bordo, Michael D.; Prescott, Edward Simpson - National Bureau of Economic Research - 2023
We evaluate the decentralized structure of the Federal Reserve System as a mechanism for generating and processing new ideas on monetary policy over the 1960 - 2000 period. We document the introduction of monetarism, rational expectations, credibility, transparency, and other monetary policy...
Persistent link: https://www.econbiz.de/10014437046
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Business Failures by Branch of Business in the United States, 1895 to 1935 : A Statistical History
Richardson, Gary - 2024
Dun's Review began publishing monthly data on bankruptcies by branch of business during the 1890s. Those series evolved through many iterations. This essay reconstructs the series from 1895 to 1935 and discusses how it can be used for economic analysis
Persistent link: https://www.econbiz.de/10015072870