| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16097 |
| DP16097 QUANTIFYING MARKET POWER AND BUSINESS DYNAMISM IN THE MACROECONOMY | |
| Jan Eeckhout; Jan De Loecker; Simon Mongey | |
| 发表日期 | 2021-05-02 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We propose a general equilibrium model with oligopolistic output markets where two channels can cause a change in market power: (i) technology, via changes to productivity shocks and the cost of en- try, (ii) market structure, via changes to the number of potential competitors. First, we disentangle these narratives by matching data on markups, labor reallocation and costs, finding that both channels are necessary to account for the data. Second, we show that changes in technology and market structure yield positive welfare effects through reallocation and selection, but off-setting negative effects from dead- weight loss and overhead. Overall, welfare is 9 percent lower in 2016 than in 1980. Third, the changes we identify explain and decompose cross-sectional patterns in declining business dynamism, declining equilibrium wages and labor force participation via reallocation toward larger, more productive firms. |
| 主题 | Macroeconomics and Growth |
| 关键词 | Business dynamism Market power in the aggregate economy Technological change Market structure Reallocation Endogenous markups Wage stagnation Labor share Passthrough |
| URL | https://cepr.org/publications/dp16097 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545074 |
| 推荐引用方式 GB/T 7714 | Jan Eeckhout,Jan De Loecker,Simon Mongey. DP16097 QUANTIFYING MARKET POWER AND BUSINESS DYNAMISM IN THE MACROECONOMY. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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