We analyse the impact of innovation activity and product and labour market institutions on multi-factor productivity in a panel of 23 industries in 18 OECD countries using a novel harmonised database. First, we provide evidence of convergence in productivity levels within most industries across...

This study investigates the relationship between profitability and market power in the banking sector using data from the financial reports of the banks that operated in Serbia and Montenegro, covering the period from the first quarter of 2010 to the last quarter of 2019. In order to investigate...

This paper introduces a novel analysis of the classic quot;persistence of leadershipquot; question, and applies it to a newly constructed dataset for Japanese manufacturing. The analysis rests on an appeal to an empirical quot;scaling relationshipquot; between current market share and the...

Using a simple model of two-sided markets, we show that, in the social optimum, platform pricing leads to an inherent cost recovery problem. This result is driven by the positive externality of participation that users on either side of the market exert on the opposite side. The contribution of...

This paper studies the links between competition in the lending market and spreads of bank loans in Brazil. Evidence from a dataset of more than 13 million loan-level observations from private banks shows a positive relationship between market power, measured by the Lerner index, and the cost of...

Non-bank financial institutions, such as principal-trading firms and hedge funds, increasingly compete with bank-owned dealers in fixed-income markets. Some market participants worry that if non-bank financial institutions push out established bank dealers, liquidity will become unreliable...

In this paper we analyze the structure of contest equilibria with a variable number of individuals. First we analyze a situation where the total prize depends on the number of agents and where every single agent faces opportunity costs of investing in the contest. Second we analyze a situation...

We challenge the dichotomy of network effects and highlight that they are not an exogenous characteristic of networks, but endogenous to the decisions of network users. When users choose which activities to perform in a network, multi-activity users transform indirect into direct network...

Using data from Fortune Magazine's 500 American largest corporations from 1955 to 2010, this article shows that firm sizes at national and industrial level are highly skew but not Zipf-distributed. It also argues that, while self-organizing industrial structures of this kind are due to...