Filetype pdf de loecker eeckhout 2016
The Rise of Market Power and Wage Inequality Jan De Loecker1 Jan Eeckhout2 1Princeton and University of Leuven 2University College London and UPF NYU Search and Matching
Specifically, the example illustrates that, once one considers an increase in margins of the kind observed by De Loecker and Eeckhout, the competitive effects of a 5-to-4 merger today may well be comparable to the competitive effects caused by an otherwise identical 4-to-3 …
evidence so far has mostly been based on data from the United States (e.g. De Loecker and Eeckhout (2017)), but it has increasingly also come from Europe and other regions (e.g. De Loecker and Eeckhout (2018), Callligaris, Criscuolo, and Marcolin (2018), and
De Loecker and Eeckhout (2017) document that the average mark-up among the U.S. rms have been increasing dramatically since 1980s and provide several macroeconomic implications of this trend such as the decline in labor and capital share, the decrease of low skill labor
University of Cambridge Structural reform in the EU Lecture 1 Course for DG-Ecfin EU Brussels 12 and 19 June 2017
Jan De Loecker & Jan Eeckhout, 2017. “The Rise of Market Power and the Macroeconomic Implications,” NBER Working Papers 23687, National Bureau of Economic Research, Inc.
The Rise of Market Power and the Macroeconomic Implications Jan De Loecker, Jan Eeckhout. NBER Working Paper No. 23687 Issued in August 2017 NBER Program(s):Economic Fluctuations and Growth, Industrial Organization, Productivity, Innovation, and Entrepreneurship
To date, little is known about the evolution of market power for the economies around the world. We extract data from the financial statements of over 70,000 firms in 134 countries, and we analyze and document the evolution of markups over the last four decades.

The share of industry sales accounted for by the largest Australian businesses (or ‘business concentration’) has gradually risen since the start of this century. This increase in concentration has been mainly driven by the retail trade sector, particularly in recent years. In contrast, estimates
Using firm-level data from 139 countries, this paper investigates the effect of competition in both the domestic and foreign markets on firm productivity and export decisions.
issn 2289-1560 2016 41 (2013) exhibited the strong relationship between organizational learning and innovation and their effect on organizational
De Loecker and Eeckhout[2017] show that there is a dramatic rise in rm market power in the 4 Our implementation of operating markups, which follow the work ofDe Loecker and Eeckhout[2017] andTraina [2018] is discussed below.
See De Loecker & Eeckhout (2017): This increase in markups implies an increase in the economic profit margin from around 20% (1980s) to 30% (2000) to 40% ( today).
and Vincent, 2017; De Loecker and Eeckhout, 2017) • Technological change (Autor et al., 2003; Dustmann, Ludsteck and Schönberg, 2009) • Structural problems; labor market inflexibilites • Hartz reforms . Unions in Germany and France: Similarities • Negotiations between employer federations and trade unions predominantly take place at industry level • Negotiations take place (most
参考文献:De Loecker, Jan, and Jan Eeckhout. The rise of market power and the macroeconomic implications. R&R at The rise of market power and the macroeconomic implications. R&R at Quarterly Journal of Economics .
target potential new users (OECD, 2016 [3]). 1 However, a thriving market for data between firms also exists, which may contribute to alleviate the asymmetries in data collection between smaller and larger players. Platform businesses also exhibit strong network effects, which further reinforce the benefits of scale, potentially creating difficulties for new entrants to break into a range of
So Far, the Empirical Response is Largely from Non-IO Researchers Many empirical IO papers have little to say about “aggregate” or average economy-wide levels of competition.
3 De Loecker & Eeckhout (2017) and Kurz (2017) also consider the impact of departures from perfect competition on estimates of TFP. Both papers find (as do we) that productivity growth is under-estimated if

Markup and price dynamics linking micro to macro


Labor’s Share the firm’s market power and TFP

For example, de Loecker and Eeckhout (2017) use the inverse of the cost of goods sold to revenue and find astronomical increases in the markup in the U.S., rising from 1.2 in 1980 to 1.6 now.
(e.g.De Loecker et al.,2016). I am able to tackle both these issues by constructing measures of firm-level prices of output and the imported input from the observed firm …
De Loecker and Eeckhout, 2017. The changing ownership structure of –rm 1.Institutional stock ownership has increased dramatically in the last 35 years. I World of dispersed ownership in US of Berle and Means (1932) no longer applies. 2.The asset management industry has become more concentrated. 3.There has been a shift from active to passive investors. 4.Common ownership patterns on the rise
De Loecker gratefully acknowledges support from the FWO Odysseus Grant and Eeckhout from the ERC, Advanced grant 339186, and from ECO2015- 67655-P. Gabriel joined the team in the second round revision in order to incorporate the Census Data analysis, as
Now, De Loecker and Eeckhout are back with another paper about the power of companies, and it’s more bad news (pdf). According to their analysis of the financial statements 70,000 companies
countries, Loecker and Eeckhout (2018) estimate that the average mark-up exceeds one for all the countries in 2016. It ranges from 2.84 (Denmark) to 1.19 (Portugal).
2016; Autor, Dorn, Katz, Patterson, and Van Reenen, 2017; De Loecker and Eeckhout, 2017). To date, however, both explanations have only been tested at the country and sector level, even though the aggregate labor share is a result of the production decisions and wage- setting processes occurring at individual, heterogeneous firms. In this paper, I propose a methodology for calculating the
I am referring to the new Jan De Loecker and Eeckhout paper that is starting to get some buzz (ungated versions here). Their major result, quite simply, is: In 1980, average markups start to rise from 18% above marginal cost to 67% now. That sounds like big news, and probably it is. But I don’t […]
relationships in the economy (De Loecker and Eeckhout (2017)). They may have influenced the pricing and They may have influenced the pricing and provision of goods and services in the economy and hence the Phillips curve.


Global Market Power — by Jan De Loecker, Jan Eeckhout To date, little is known about the evolution of market power for the economies around the world. We extract data from the financial statements of over 70,000 firms in 134 countries, and we analyze and document the …
the effects is still to be settled: an influential 2016 study by De Loecker and Eeckhout (DLE), based on US data for listed firms, found that average margins have more than
Reading List Page 1 Reading Group 13 November 2018 Prof. M. Kredler 1Sergio De Loecker and Eeckhout Working Paper Feijoo Global Market Power 2018 http://www
De Loecker and Eeckhout (2017) show evidence of rising markups since the 1980s among publicly traded –rms. Hall (2018) –nds similarly increasing markups at the sectoral level using KLEMS productivity data.
Jan De Loecker Professor of Economics, KU Leuven Verified email at kuleuven.be Kurt Schmidheiny Professor of Applied Econometrics, University of Basel Verified email at unibas.ch Boyan Jovanovic NYU Economics Verified email at nyu.edu


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Jan Eeckhout jan.eeckhout@upf.edu www.janeeckhout.com ACADEMIC APPOINTMENTS Louis A. Simpson Center Visiting Fellow & Visiting Professor, Department of …
International competition and firm-level adjustment in markups and production efficiency, with J. Van Biesebroeck and C. Fuss, May 2016.
Working paper February 2016 Ideas for growth www.theigc.org Understanding productivity in the Pakistani garment sector 1. Summary We report on a pilot …
regions { e.g. De Loecker and Eeckhout (2017, 2018). Debate at various high-level policy circles (ECB Sintra, Jackson Hole, etc.) about the rise (or not) of markups and therefore market power.

Global Market Power nber.org

Extend (De Loecker and Eeckhout, 2017) using a richer database that allows to document evolution of markups all around the world . Markup estimation: Methodology
Jan De Loecker, Jan Eeckhout 13th-Apr-2018 Description: The macroeconomy is experiencing a fundamental long term change in the last decades at a lower frequency than the business cycle.
[De Loecker and Eeckhout, 2017] and private investment [Gutiérrez and Philippon, 2016], aiding the rise of “superstar” firms [Autor et al., 2017], and even impacting the share of output going towards

The Rise of Market Power and the Macroeconomic Implications

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6/12/2018 · In a new version of their note, De Loecker and Eeckhout walk back their claims about Traina. Given the seriousness of their claims and the extremely inflammatory language, seems incredible that they could have circulated their initial draft without checking first.
De Loecker and Eeckhout (2017) argue that several secular trends in the United States may be caused by a rising average market power—such as declining labor and capital shares, declining wages for low skill workers, a declining labor force participation,
ups (McKinsey, 2015; Chen et al., 2017; De Loecker-Eeckhout, 2017). This market concentration also This market concentration also figures prominently among the explanations for the observed decline in the wage share (e.g. De
Our paper provides evidence that, along with rising markups (De Loecker and Eeckhout, 2017), increasing concentration (Grullon, Larkin, and Michaely, 2016), decreasing rates of firm entry and exit
Final Exam Fall 2017 December 1, 2017 Have a look at these three papers (They are included in a zip le at my website): Jan De Loecker and Jan Eeckhout (2017) The Rise of Market Power and
De loecker eeckhout keyword after analyzing the system lists the list of keywords related and the list of websites with related content, in addition you can see which keywords most interested customers on …
added is de ned as operating income plus labor expenses.1 Our key empirical contribution is to show that the increase in the capital share is concentrated among the largest publicly traded rms in the U.S. Figure 2 shows the relationship between rm size and the ratio of capital income to sales,
6See Barkai (2016) and Caballero et al. (2017) for arguments using aggregate data, and Gutierrez (2017), and De Loecker and Eeckhout (2017) for evidence using firm-level data. 7 There is also an additional e ect, reminiscent of Hall (1990), due to the fact that the Solow residual
De Loecker and Eeckhout, 2017 TrendsCorporate Governance and overlapping ownershipMarket Power or e¢ ciency?Spillovers and innovation General equilibriumConclusion Declining labor share (so …

FEBRUARY 2018 Monthly Report wiiw.ac.at


Concentration trends in Europe Charles River Associates

Brussels Bruegel 12 Boskin Et Al 1996 De Loecker J And J Eeckhout 2017 The Rise Of Market Power And 13 Mcmillan And Rodrik 2011 The Macroeconomic Implications Nber Working Paper No 23687 Cambridge Ma National Bureau Of Economic Research The Public Debate Over Brexit Before The June 2016 Referendum Was Almost Entirely Devoid Of A Fact Based Understanding Of Both These …
Gutierrez (2017), and De Loecker and Eeckhout (2017) for evidence using firm-level data. 7 There is also an additional e ect, reminiscent of Hall (1990), due to the fact that the Solow residual does not weigh changes in factor shares correctly in the presence of distortions.
Introduction Introduction Growing concern about increasing product market concentration: increases in markups (De Loecker and Eeckhout, 2017) decline in the labor share (Barkai, 2016; Karabarbounis and …
Blonigen and Pierce(2016);De Loecker and Eeckhout(2017);Zingales(2017). 1. buyer competition by allowing input prices to be a flexible function of the demand of the firm. In this framework, the market power of the buyer in a given input market is identified as an input efficiency wedge in her first order condition for that input. I show that this wedge can be expressed as a function of the
The Rise of Market Power and the Macroeconomic Implications Jan De Loecker, Jan Eeckhout. NBER Working Paper No. 23687 Issued in August 2017 NBER Program(s):Economic Fluctuations and Growth, Industrial Organization, Productivity, Innovation, and Entrepreneurship We document the evolution of markups based on firm-level data for the US economy since 1950. The Rise of Market Power and the
See De Loecker & Eeckhout (2017): This increase in markups implies an increase in the economic profit margin from around 20% (1980s) to 30% (2000) to 40% (today) 8
2016 did it become clear how dramatically things had changed. It turned out that a great deal of the economic progress that had taken place before the recession was illusory—it had
(Autor et al., 2017; Barkai, 2016; De Loecker and Eeckhout, 2017; Hall, 2018) 1. median market share increases among UK companies since 1983. Second, companies with higher market power share on average more of their rents th an companies with low power. Third, the positive association between market power and rent sh aring is significantly weaker in the period 2001- 2016 compared to 1983 …

欢迎来到垄断的年代——基于价格加成估计的新发


Maintaining competitive conditions in the era of

De Loecker, J. and J. Eeckhout (2017). The rise of market power and the macroeconomic implications. Technical report, National Bureau of Economic Research. 27 The rise of market power and the macroeconomic implications.
Jan De Loecker, Jan Eeckhout. NBER Working Paper No. 24768 Issued in June 2018 NBER Program(s):Industrial Organization, Productivity, Innovation, and Entrepreneurship. To date, little is known about the evolution of market power for the economies around the world. We extract data from the financial statements of over 70,000 firms in 134 countries, and we analyze and document the …
Working paper February 2016 Ideas for growth www.theigc.org Understanding productivity in the Pakistani garment sector 1. Summary We report on a pilot project in the ready-made garment sector in …
Accounting for Factorless Income Loukas Karabarbounis Brent Neiman University of Minnesota University of Chicago May 2018
as is the case in the study by De Loecker and Eeckhout (2017) for the United States, and that we perform our analysis also on a more disaggregated geographical …

Product Market Reform and Innovation in the EU Request PDF

Global Market Power ideas.repec.org

Accounting for Factorless Income faculty.chicagobooth.edu

The Rise of Market Power and Wage Inequality


2016 SEAJBEL

Jan De Loecker Google Scholar Citations

Chris Edmond on Twitter “In a new version of their note
2016 SEAJBEL

De Loecker and Eeckhout[2017] show that there is a dramatic rise in rm market power in the 4 Our implementation of operating markups, which follow the work ofDe Loecker and Eeckhout[2017] andTraina [2018] is discussed below.
The Rise of Market Power and the Macroeconomic Implications Jan De Loecker, Jan Eeckhout. NBER Working Paper No. 23687 Issued in August 2017 NBER Program(s):Economic Fluctuations and Growth, Industrial Organization, Productivity, Innovation, and Entrepreneurship We document the evolution of markups based on firm-level data for the US economy since 1950. The Rise of Market Power and the
Now, De Loecker and Eeckhout are back with another paper about the power of companies, and it’s more bad news (pdf). According to their analysis of the financial statements 70,000 companies
(Autor et al., 2017; Barkai, 2016; De Loecker and Eeckhout, 2017; Hall, 2018) 1. median market share increases among UK companies since 1983. Second, companies with higher market power share on average more of their rents th an companies with low power. Third, the positive association between market power and rent sh aring is significantly weaker in the period 2001- 2016 compared to 1983 …
added is de ned as operating income plus labor expenses.1 Our key empirical contribution is to show that the increase in the capital share is concentrated among the largest publicly traded rms in the U.S. Figure 2 shows the relationship between rm size and the ratio of capital income to sales,
as is the case in the study by De Loecker and Eeckhout (2017) for the United States, and that we perform our analysis also on a more disaggregated geographical …
relationships in the economy (De Loecker and Eeckhout (2017)). They may have influenced the pricing and They may have influenced the pricing and provision of goods and services in the economy and hence the Phillips curve.
Specifically, the example illustrates that, once one considers an increase in margins of the kind observed by De Loecker and Eeckhout, the competitive effects of a 5-to-4 merger today may well be comparable to the competitive effects caused by an otherwise identical 4-to-3 …
Reading List Page 1 Reading Group 13 November 2018 Prof. M. Kredler 1Sergio De Loecker and Eeckhout Working Paper Feijoo Global Market Power 2018 http://www
Brussels Bruegel 12 Boskin Et Al 1996 De Loecker J And J Eeckhout 2017 The Rise Of Market Power And 13 Mcmillan And Rodrik 2011 The Macroeconomic Implications Nber Working Paper No 23687 Cambridge Ma National Bureau Of Economic Research The Public Debate Over Brexit Before The June 2016 Referendum Was Almost Entirely Devoid Of A Fact Based Understanding Of Both These …
The Rise of Market Power and Wage Inequality Jan De Loecker1 Jan Eeckhout2 1Princeton and University of Leuven 2University College London and UPF NYU Search and Matching
See De Loecker & Eeckhout (2017): This increase in markups implies an increase in the economic profit margin from around 20% (1980s) to 30% (2000) to 40% ( today).
Using firm-level data from 139 countries, this paper investigates the effect of competition in both the domestic and foreign markets on firm productivity and export decisions.
issn 2289-1560 2016 41 (2013) exhibited the strong relationship between organizational learning and innovation and their effect on organizational

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  1. 2016 did it become clear how dramatically things had changed. It turned out that a great deal of the economic progress that had taken place before the recession was illusory—it had

    Markup and price dynamics linking micro to macro
    Maintaining competitive conditions in the era of
    Trade costs import penetration and markups Munich

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