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Gutiérrez Gallardo, Germán; Jones, Callum; Philippon, … - 2019

We combine a structural model with cross-sectional micro data to identify the causes and consequences of rising concentration in the US economy. Using asset prices and industry data, we estimate realized and anticipated shocks that drive entry and concentration. We validate our approach by...

Persistent link: https://www.econbiz.de/10012154591

What is the impact of increased business competition?

Félix, Sónia; Maggi, Chiara - 2019

This paper studies the macroeconomic effect and underlying firm-level transmission channels of a reduction in business entry costs. We provide novel evidence on the response of firms' entry, exit, and employment decisions. To do so, we use as a natural experiment a reform in Portugal that...

Persistent link: https://www.econbiz.de/10012155037

How do regulations of entry and credit access relate to industry competition? : international evidence

Igan, Deniz; Mirzaei, Ali; Moore, Tomoe - 2018

We examine the extent to which regulations of entry and credit access are related to competition using data on 28 … competition, as proxied by the price-cost margin, in the industries with a naturally high entry rate. Rigid entry regulations are … exerting a positive effect on competition. These results suggest that incumbent firms are likely to enjoy the rent and market …

Persistent link: https://www.econbiz.de/10011848240

Product market deregulation and growth : new country-industry-level evidence

Bouis, Romain; Duval, Romain; Eugster, Johannes - 2016

The paper investigates the economic effects of major product market reforms in some of the historically most protected non-manufacturing industries. It relies on a unique mapping between new annual data on reform shocks and sector-level outcomes for five network industries (electricity and gas,...

Persistent link: https://www.econbiz.de/10011711479

Innovate to lead or innovate to prevail : when do monopolistic rents induce growth?

Piazza, Roberto; Zheng, Yu - 2019

This paper extends the Schumpeterian model of creative destruction by allowing followers' cost of innovation to increase in their technological distance from the leader. This assumption is motivated by the observation the more technologically ad- vanced the leader is, the harder it is for a...

Persistent link: https://www.econbiz.de/10012155163

The macroeconomic effects of labor and product market reforms in Morocco

Sarr, Babacar; Benlamine, Mokhtar; Munkacsi, Zsuzsa - 2019

This paper studies the macroeconomic effects and sequencing of (LMRs) and product (PMRs) market reforms in Morocco. It finds that introducing LMRs and PMRs simultaneously would add about 2.5 percentage points (pp) of GDP growth and reduce unemployment by about 2.2 pp after five years. If...

Persistent link: https://www.econbiz.de/10012122485

The U.K. Business Cycle, Monetary Policy, and EMU Entry

Samiei, Hossein - 2000

In the context of the U.K. government’s EMU entry condition of cyclical convergence, this paper (i) provides further evidence suggesting that historically the U.K.’s business cycle has been more volatile than, and relatively independent of, the cycles in the euro-area countries; and (ii)...

Persistent link: https://www.econbiz.de/10014401449

Trade, Inequality, and the Political Economy of Institutions

Levchenko, Andrei A. - 2006

We analyze the relationship between international trade and the quality of economic institutions, such as contract enforcement, rule of law, and property rights. In our model, firms differ in their preferences for institutional quality, which is determined endogenously in a political economy...

Persistent link: https://www.econbiz.de/10014402396

International trade and corporate market power

Gonzalez-Garcia, Jesus; Yang, Yuanchen - 2020

This paper examines the effect of international trade on corporate market power in emerging market economies and developing countries, with a special focus on sub-Saharan Africa. The analysis is based on a large firm-level dataset, tariff data by sector and agreggate indicators of international...

Persistent link: https://www.econbiz.de/10012299347

Fair and inclusive markets : why dynamism matters

Aghion, Philippe; Chérif, Réda; Hasanov, Fuad - 2021

a high level of competition. What a country produces and how much it competes domestically and internationally are …

Persistent link: https://www.econbiz.de/10012517949