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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

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

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

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

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

Competition vs. stability : oligopolistic banking system with run risk

Capelle, Damien - 2021

This paper develops a model where large financial intermediaries subject to systemic runs internalize the effect of their leverage on aggregate risk, returns and asset prices. Near the steady-state, they restrict leverage to avoid the risk of a run which gives rise to an accelerator effect. For...

Persistent link: https://www.econbiz.de/10012604798

Macroeconomic policy, product market competition, and growth : the intangible investment channel

Ahn, JaeBin; Duval, Romain; Sever, Can - 2020

policy could strengthen longer-term growth, particularly so where strong product market competition prevents firms from self … policy through the intangible investment channel, and its complementarity with pro-competition product market deregulation …

Persistent link: https://www.econbiz.de/10012170156

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