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The 'Matthew Effect' and Market Concentration : Search Complementarities and Monopsony Power

Fernández-Villaverde, Jesús; Mandelman, Federico; Yu, Yang - 2021

concentration fosters monopsony power in the labor market, magnifying profits and further enhancing high-productivity firms’ output … share. Firms want to get bigger and hire more workers, in stark contrast with the classic monopsony model, where a firm aims … to reduce the amount of labor it hires. The combination of search complementarities and monopsony power induces a strong …

Persistent link: https://www.econbiz.de/10013241380

The "Matthew Effect" and Market Concentration : Search Complementarities and Monopsony Power

Fernández-Villaverde, Jesús; Mandelman, Federico; Yu, Yang - 2021

Persistent link: https://www.econbiz.de/10013245629

The "Matthew effect" and market concentration : search complementarities and monopsony power

Fernández-Villaverde, Jesús; Mandelman, Federico S.; … - 2021

concentration fosters monopsony power in the labor market, magnifying profits and further enhancing the output share of high …-productivity firms. The combination of search complementarities and monopsony power induce a strong "Matthew effect" that endogenously …

Persistent link: https://www.econbiz.de/10012416317

The "Matthew effect" and market concentration : search complementarities and monopsony power

Fernández-Villaverde, Jesús; Mandelman, Federico S.; … - 2021

concentration fosters monopsony power in the labor market, magnifying profits and further enhancing high-productivity firms' output … share. Firms want to get bigger and hire more workers, in stark contrast with the classic monopsony model, where a firm aims … to reduce the amount of labor it hires. The combination of search complementarities and monopsony power induces a strong …

Persistent link: https://www.econbiz.de/10012433938

Solution methods for models with rare disasters

Fernández-Villaverde, Jesús; Levintal, Oren - In: Quantitative economics : QE ; journal of the … 9 (2018) 2, pp. 903-944

This paper compares different solution methods for computing the equilibrium of dynamic stochastic general equilibrium (DSGE) models with rare disasters along the lines of those proposed by Rietz (1988), Barro (2006), Gabaix (2012), and Gourio (2012). DSGE models with rare disasters require...

Persistent link: https://www.econbiz.de/10011994514