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Keywords:market concentration 

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

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

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