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What happened to U.S. business dynamism?
Akcigit, Ufuk; Ates, Sina T. - 2019
In the past several decades, the U.S. economy has witnessed a number of striking trends that indicate a rising market concentration and a slowdown in business dynamism. In this paper, we make an attempt to understand potential common forces behind these empirical regularities through the lens of...
Persistent link: https://www.econbiz.de/10012104132
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Concentration in international markets : evidence from US imports
Bonfiglioli, Alessandra; Crinò, Rosario; Gancia, Gino … - 2021
We use transaction-level data to study changes in the concentration of US imports. Concentration has fallen in the typical industry, while it is stable by industry and origin country. The fall in concentration is driven by the extensive margin: the number of exporting firms has grown, and the...
Persistent link: https://www.econbiz.de/10012495680
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Concentrating on the fall of the labor share
Autor, David H.; Dorn, David; Katz, Lawrence F.; … - 2017
The recent fall of labor's share of GDP in numerous countries is well-documented, but its causes are poorly understood. We sketch a "superstar firm" model where industries are increasingly characterized by "winner take most" competition, leading a small number of highly profitable (and low labor...
Persistent link: https://www.econbiz.de/10011602754
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Bank concentration and monetary policy pass-through
Gödl-Hanisch, Isabel - 2023
This paper analyzes the implications of the gradual rise in bank concentration since the 1990s for the transmission of … the level of local bank concentration and bank capitalization. I find that banks operating in high-concentration markets … in local deposit and loan markets, along with bank capital requirements, lead to frictions on the pass-through to the …
Persistent link: https://www.econbiz.de/10014251891
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Ten facts on declining business dynamism and lessons from endogenous growth theory
Akcigit, Ufuk; Ates, Sina T. - 2019
In this paper, we review the literature on declining business dynamism and its implications in the United States and propose a unifying theory to analyze the symptoms and the potential causes of this decline. We first highlight 10 pronounced stylized facts related to declining business dynamism...
Persistent link: https://www.econbiz.de/10012104042
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International trade and retail market performance and structure : theory and empirical evidence
Meinen, Philipp; Raff, Horst - 2018
Based on a theoretical model featuring heterogeneous retailers that may source globally and operate as chains, we derive a number of hypotheses that link trade integration to retail firm performance and to the structure of retail markets. We empirically test these predictions using Danish...
Persistent link: https://www.econbiz.de/10011863627
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Common ownership of competing firms : evidence from Australia
Leigh, Andrew; Triggs, Adam - 2021
We provide the first estimates of the extent of common ownership of competing firms in Australia. Combining data on market shares and substantial shareholdings, we calculate the impact of common ownership on effective market concentration. Among firms where we can identify at least one owner, 31...
Persistent link: https://www.econbiz.de/10012507267
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Technology, market structure and the gains from trade
Impullitti, Giammario; Licandro, Omar; Rendahl, Pontus - 2021
We study the gains from trade in a model with oligopolistic competition, heterogeneous firms and innovation, and provide a formula to decompose the mechanism. The new insight we provide is that market concentration can be a welfare-relevant feature of market power above and beyond markup...
Persistent link: https://www.econbiz.de/10012507344
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The "Matthew effect" and market concentration : search complementarities and monopsony power
Fernández-Villaverde, Jesús; Mandelman, Federico S.; … - 2021
This paper develops a dynamic general equilibrium model with heterogeneous firms that face search complementarities in the formation of vendor contracts. Search complementarities amplify small differences in productivity among firms. Market concentration fosters monopsony power in the labor...
Persistent link: https://www.econbiz.de/10012433938
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Strategic Corporate Social Responsibility
Planer-Friedrich, Lisa; Sahm, Marco - 2017 - This version: May 29, 2017
We examine the strategic use of Corporate Social Responsibility (CSR) in imperfectly competitive markets. The level of CSR determines the weight a firm puts on consumer surplus in its objective function before it decides upon supply. First, we consider symmetric Cournot competition and show that...
Persistent link: https://www.econbiz.de/10011659485