Search Results

Showing results 1 to 2 of approximately 2.

(refine search)
SORT BY: PREVIOUS / NEXT
Jel Classification:L41 

Working Paper
Evidence for the Effects of Mergers on Market Power and Efficiency

Study of the impact of mergers and acquisitions (M&As) on productivity and market power has been complicated by the difficulty of separating these two effects. We use newly-developed techniques to separately estimate productivity and markups across a wide range of industries using detailed plant-level data. Employing a difference-in-differences framework, we find that M&As are associated with increases in average markups, but find little evidence for effects on plant-level productivity. We also examine whether M&As increase efficiency through reallocation of production to more efficient ...
Finance and Economics Discussion Series , Paper 2016-082

Working Paper
Common Ownership Does Not Have Anti-Competitive Effects in the Airline Industry

Institutional investors often own significant equity in firms that compete in the same product market. These "common owners" may have an incentive to coordinate the actions of firms that would otherwise be competing rivals, leading to anti-competitive pricing. This paper uses data on airline ticket prices to test whether common owners induce anti-competitive pricing behavior. We find little evidence to support such a hypothesis, and show that the positive relationship between average ticket prices and a commonly used measure of common ownership previously documented in the literature is ...
FRB Atlanta Working Paper , Paper 2019-15

FILTER BY year

FILTER BY Content Type

FILTER BY Jel Classification

G34 2 items

D24 1 items

G33 1 items

G38 1 items

L11 1 items

show more (1)

FILTER BY Keywords

Acquisitions 1 items

Efficiency 1 items

Market Power 1 items

Markups 1 items

Mergers 1 items

Productivity 1 items

show more (5)

PREVIOUS / NEXT