Using a new dataset, we document a systematic pattern in the demographic characteristics of car buyers over the model year: as vehicle prices fall over the model year, so do buyer incomes. This pattern is consistent with price-insensitive buyers purchasing early in the year, while others wait...

More competitive markets are associated with higher productivity. However, changes in competition complicate productivity measurement since changing mark-ups may shift factor shares. This paper examines productivity measurement in markets with market power and restrictive work rules: rules that...