This paper studies market segmentation that arises from the introduction of a price ceiling in the market for rental housing. When part of the market faces rent control, theory predicts an increase of free-market rents, a consequence of misallocation of households to housing units. We study a...

Price inflation in the euro area has been stable and low since the Global Financial Crisis, despite notable changes in output and unemployment. We show that an increasing share of high markup firms is part of the explanation of why inflation remained stubbornly stable and low in the euro area...

Output and input market distortions manifest as wedges in the firm's first order conditions. The production approach to markup estimation recovers the markup wedge using the output elasticity for a variable and undistorted input. We show that using the revenue elasticity for any variable input,...

The study of market power has gained a lot of attention by scholars and policy-makers since De Loecker and Eeckhout (2018). In their work, they show the temporal evolution of market power worldwide using detailed data from the financial statements of thousands of firms. In this paper, we propose...

Price inflation in the euro area has been stable and low since the Global Financial Crisis, despite notable changes in output and unemployment. We show that an increasing share of high markup firms is part of the explanation of why inflation remained stubbornly stable and low in the euro area...

In this paper, we provide an assessment of the evolution of markups in Italy in the last twenty years. To this aim, we resort to both macro and micro data and estimation techniques, namely reduced forms accounting measures (price-cost margins) and production function model-based indicators. When...

We separately observe variable input expenditure and expenditure on fixed inputs in novel firm-level data covering the Belgian manufacturing sector over the last decades. This permits a deeper investigation of two potential drivers of the globally observed widening gap between firms' revenue and...

Labour market dynamics according the individual working hour tension (preferred working hours minus actual working hours) of active people with focus on the self-employed, as professions and entrepreneurs, and employees are investigated in our study. The individual longitudinal analysis based on...

This paper estimates the extent of intergenerational income mobility in Japan among sons and daughters born between 1935 and 1975. Our estimates rely on a two-sample instrumental variables approach using representative data from the Japanese Social Stratification and Mobility (SSM) surveys,...

The goal of this study is to examine trends in the importance of family background in determining adult income in Sweden. We investigate whether the association between family background and income in Sweden has changed for cohorts born 1932-1968. Our main finding is that the share of the...