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Keywords:market concentration 

Journal Article
Concentrating on Market Concentration

At the Richmond Fed Highlighted Research: "Diverging Trends in National and Local Concentration." Esteban Rossi-Hansberg, Pierre-Daniel G. Sarte, and Nicholas Trachter. Federal Reserve Bank of Richmond Working Paper No. 18-15R, September 2018 (revised February 2019).
Econ Focus , Issue 1Q , Pages 9-9

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

This paper develops a dynamic general equilibrium model with heterogeneous firms that face search complementarities in the formation of vendor contracts. Search complementarities amplify small differences in productivity among firms. Market 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 generates superstar firms out of uniform idiosyncratic productivity distributions. Reductions in ...
FRB Atlanta Working Paper , Paper 2021-4

Working Paper
Automation, Market Concentration, and the Labor Share

Since the early 2000s, a rising share of production has been concentrated in a small number of superstar firms. We argue that the rise of automation technologies and the cross-sectional variation of robot use rates have contributed to the increases in industrial concentration. Motivated by empirical evidence, we build a general equilibrium model with heterogeneous firms, endogenous automation decisions, and variable markups. Firms choose between two types of technologies, one uses workers only and the other uses both workers and robots subject to an idiosyncratic fixed cost of robot ...
Working Paper Series , Paper 2022-05

Discussion Paper
Has Market Power of U.S. Firms Increased?

A number of studies have documented that market concentration among U.S. firms has increased over the last decades, as large firms have grown more dominant. In a new study, we examine whether this rising domestic concentration means that large U.S. firms have more market power in the manufacturing sector. Our research argues that increasing foreign competition over the last few decades has in fact reduced U.S. firms’ market power in manufacturing.
Liberty Street Economics , Paper 20210621a

Report
U.S. Market Concentration and Import Competition

A rapidly growing literature has shown that market concentration among domestic firms has increased in the United States over the last three decades. Using confidential census data for the manufacturing sector, we show that typical measures of concentration, once adjusted for sales by foreign exporters, actually stayed constant between 1992 and 2012. We reconcile these findings by linking part of the increase in domestic concentration to import competition. Although concentration among U.S.-based firms rose, the growth of foreign firms, mostly at the bottom of the sales distribution, ...
Staff Reports , Paper 968

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