We find that ownership changes much less over time in private firms than in public firms. The average largest … ownership dominates ownership determinants proposed in the literature, and the estimated relationship depends heavily on whether … the economic model and the econometric technique capture the strong ownership persistence. This evidence suggests that …

An increasing body of empirical evidence is documenting trends toward rising concentration, profits, and markups in … many industries around the world since the 1980s. Two major criticisms of these studies is that concentration and market … scrutinized by the European Commission between 1995 and 2014. We show that concentration, as measured by the market-specific post …

An increasing body of empirical evidence is documenting trends toward rising concentration, profits, and markups in … many industries around the world since the 1980s. Two major criticisms of these studies is that concentration and market … scrutinized by the European Commission between 1995 and 2014. We show that concentration, as measured by the market-specific post …

extent of competition from substitute products. I estimate that, in 2019, public corporations produced consumer surplus in … excess of 10 US$ trillions (against $3 trillions of profits). Oligopoly lowers total surplus by 11.5% and depresses consumer … surplus by 31%. My analysis also suggests that both numbers were significantly lower in the mid-90s (7.9% and 21 …