Can an increasing importance of intangible capital explain increases in markups and profits? I use a heterogeneous firm … model to show how intangible capital, characterized by fixed costs and uncertainty, is related to markups and profits at the … intangible capital investment can charge high markups relative to other firms whereas firms that fail will exit. However, these …

This paper analyzes the effects of mergers and acquisitions on the markups of non-merging rival firms across a broad … production functions, we estimate markups as a measure of market power. Our results indicate that rivals significantly increase … their markups after mergers relative to a matched control group. Consistent with increases in market power, the effects are …

our firm-level markup estimates. We document increasing markups in the overall economy throughout the first fifteen years … sectors with high markups increase their market share, which raises the aggregate markup, but this is dominated by a negative … correlation between changes in market share and markups, which depresses the aggregate. …

markups from both value added and sales and empirically test whether some of the global trends in market power can be seen in … Slovak firm level data as well. I find that the markups in Slovakia in fact declined since 2010, both in terms of value added … and sales. Although the decrease in sales markups is negligible, the value added aggregate markup declined by 25% from 2 …

Several models posit a positive cross-sectional correlation between markups and firm size, which, among others …, we show that larger firms have lower markups. This correlation turns positive only after conditioning on wage markdowns …